Table 4-1
The table shows individual demand schedules for a market.

-Refer to Table 4-1. When the price of the good is $1.00, what is the quantity demanded in this market?

Question

Table 4-1
The table shows individual demand schedules for a market.
 
-Refer to Table 4-1. When the price of the good is $1.00, what is the quantity demanded in this market?

Quizplus · Accepted Answer

Looking at the row where the price is $1.00, we can see that the quantity demanded by each individual is listed as follows: Person A = 7, Person B = 11, Person C = 13. Adding these up gives us a total demand of 31 units when the price is $1.00. Therefore, the correct answer is B.

Table 4-1 The Table Shows Individual Demand Schedules for a Market