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Figure 5.22
-(Figure 5.22) Suppose there are only two consumers in the market for good X. The total quantity demanded in the market at a price of $3 is _____, and the total quantity demanded in the market at a price of $12 is _____.

Question

Use the following to answer question:
Figure 5.22 
-(Figure 5.22) Suppose there are only two consumers in the market for good X. The total quantity demanded in the market at a price of $3 is _____, and the total quantity demanded in the market at a price of $12 is _____.

Quizplus · Accepted Answer

At a price of $3, the total quantity demanded by both consumers is 20 units, and at a price of $12, the total quantity demanded is 2 units.

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