Table 3-4

-Refer to Table 3-4. The table above shows the demand schedules for cashews of two individuals (Jordy and Amy) and the rest of the market. At a price of $10, the quantity demanded in the market would be
A) 2 lbs.
B) 48 lbs.
C) 50 lbs.
D) 52 lbs.

Question

Table 3-4
 
-Refer to Table 3-4. The table above shows the demand schedules for cashews of two individuals (Jordy and Amy) and the rest of the market. At a price of $10, the quantity demanded in the market would be
A) 2 lbs. 
B) 48 lbs. 
C) 50 lbs. 
D) 52 lbs.

Quizplus · Accepted Answer

The market demand is the sum of the individual demands. If Jordy and Amy each demand a certain quantity at $10, and the rest of the market demands a certain quantity, you add these quantities together to get the total market demand.

Table 3-4 -Refer to Table 3-4. the Table Above Shows the Demand