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.If the price of caviar falls from $45 to $35, the market quantity demanded would
A)decrease by 50 oz.
B)increase by 70 oz.
C)increase by 50 oz.
D)decrease by 70 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.If the price of caviar falls from $45 to $35, the market quantity demanded would
A)decrease by 50 oz. 
B)increase by 70 oz. 
C)increase by 50 oz. 
D)decrease by 70 oz.

Quizplus · Accepted Answer

When the price falls from $45 to $35, the quantity demanded by Ari and Sonia, along with the rest of the market, increases. The total increase in quantity demanded is 70 oz.

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