Table 4-2

-Refer to Table 4-2.If these are the only four buyers in the market,then when the price decreases from $6 to $4,the market quantity demanded

Question

Table 4-2
 
-Refer to Table 4-2.If these are the only four buyers in the market,then when the price decreases from $6 to $4,the market quantity demanded

Quizplus · Accepted Answer

At a price of $6, the total quantity demanded is 5 units (2+1+1+1). When the price drops to $4, each buyer would demand a larger quantity as shown in the table. The new total quantity demanded would be 8 units (3+2+1+2). Therefore, the market quantity demanded increases by 3 units (8-5).

Table 4-2 -Refer to Table 4-2.If These Are the Only Four Buyers