Exhibit 3-1 Market demand
-Suppose there are only three people in the economy: Jane,Harry and Bob.The individual demand for corn for each of these consumers is given in Exhibit 3-1.The total quantity demanded of corn if the market price is $4 is _____.
A) 3
B) 8
C) 17
D) 25
E) 36
Correct Answer:
Verified
Q2: At a price of $5,Sam buys 10
Q5: Assume that croutons and soup are complementary
Q6: Consumer sovereignty means:
A)sellers are able to sell
Q6: Other things being equal, the effect of
Q7: According to the law of demand:
A)as the
Q9: A demand curve:
A) has a positive slope.
B)
Q9: Demand for goods and services reflects:
A)the principle
Q11: If the price of potato chips increases,other
Q16: The relationship between price and quantity demanded:
A)
Q19: Narrbegin Exhibit 3.2 Demand curves
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