Table 4.1
$$\begin{array}{l}
\text { + Table } 4.1\
\begin{array} { | l | l | l | l | }
\hline \text { Cards } & \text { Don } & \text { Jon } & \text { Ron } \
\hline \$ 2 & 3 & 2 & 1 \
\hline \$ 1.50 & 4 & 5 & 3 \
\hline
\end{array}
\end{array}$$
-Refer to the demand schedule in Table 4.1. There are three consumers in the market for playing cards: Don, Jon, and Ron. At a price of $2 per pack, the quantities demanded by each are 3 packs, 2 packs, and 1 pack, respectively. At a price of $1.50 per pack, the quantities demanded by each are 4 packs, 5 packs, and 3 packs, respectively. Which of the following is true?

Question

Table 4.1
 $$\begin{array}{l}
\text { + Table } 4.1\
\begin{array} { | l | l | l | l | } 
\hline \text { Cards } & \text { Don } & \text { Jon } & \text { Ron } \
\hline \$ 2 & 3 & 2 & 1 \
\hline \$ 1.50 & 4 & 5 & 3 \
\hline
\end{array}
\end{array}$$
-Refer to the demand schedule in Table 4.1. There are three consumers in the market for playing cards: Don, Jon, and Ron. At a price of $2 per pack, the quantities demanded by each are 3 packs, 2 packs, and 1 pack, respectively. At a price of $1.50 per pack, the quantities demanded by each are 4 packs, 5 packs, and 3 packs, respectively. Which of the following is true?

Quizplus · Accepted Answer

The demand schedule shows that when the price decreases from $2 to $1.50, the quantity demanded increases by a total of 6 packs (from 6 packs to 12 packs). Therefore, choice B is true. However, there is no information to support choice A or E. Choice C is also not necessarily true because we do not know how Don's demand curve compares to Jon's and Ron's. Choice D is not true because we cannot assume a linear relationship between price and quantity demanded.

Table 41 -Refer to the Demand Schedule in Table 4