Table 4-4
-Refer to Table 4-4. Suppose the market consists of Adam and Barb only. If the price rises by $2, the quantity demanded in the market falls by

Question

Table 4-4 
-Refer to Table 4-4. Suppose the market consists of Adam and Barb only. If the price rises by $2, the quantity demanded in the market falls by

Quizplus · Accepted Answer

Looking at the table, we can see that when the price increases from $8 to $10, Adam's quantity demanded falls from 10 units to 6 units, and Barb's quantity demanded falls from 6 units to 2 units. Therefore, in total, the quantity demanded in the market falls by 6 units.

Table 4-4 -Refer to Table 4-4. Suppose the Market Consists of Adam