Table 3-2

-Refer to Table 3-2.The table above shows the demand schedules for caviar of two individuals (Ari and Sonia)and the rest of the market.At a price of $55, the quantity demanded in the market would be
A)42 oz.
B)136 oz.
C)178 oz.
D)233 oz.

Question

Table 3-2
 
-Refer to Table 3-2.The table above shows the demand schedules for caviar of two individuals (Ari and Sonia)and the rest of the market.At a price of $55, the quantity demanded in the market would be
A)42 oz. 
B)136 oz. 
C)178 oz. 
D)233 oz.

Quizplus · Accepted Answer

Looking at the table, at a price of $55, Ari demands 8 oz of caviar and Sonia demands 48 oz. The remaining market demand is 122 oz. Adding up these three quantities gives us a total quantity demanded of 178 oz. Therefore, the correct answer is C) 178 oz.

Table 3-2 -Refer to Table 3-2.The Table Above Shows the Demand Schedules