Table 4-2

-Refer to Table 4-2. If these are the only four buyers in the market, then the market quantity demanded at a price of $1.50 is

Question

Table 4-2
​
​
  ​
​
-Refer to Table 4-2. If these are the only four buyers in the market, then the market quantity demanded at a price of $1.50 is

Quizplus · Accepted Answer

The market quantity demanded is the sum of the quantities demanded by all buyers at a given price. If the table indicates that at $1.50 each buyer demands 6 units, then for four buyers, the total is 6 units x 4 buyers = 24 units.

Table 4-2 ​

Table 4-2