Table 4-3
The table shows individual demand schedules for a market.

-Refer to the Table 4-3.What happens if the price decreases from $1.50 to $1.00

Question

Table 4-3
The table shows individual demand schedules for a market.

-Refer to the Table 4-3.What happens if the price decreases from $1.50 to $1.00

Quizplus · Accepted Answer

Looking at the table, we can see that for every individual, there is an increase in quantity demanded as the price decreases. Adding up the changes in quantity demanded for each individual, we get a total increase of 7 units in quantity demanded in the market. Therefore, the correct choice is D.

Table 4-3 The Table Shows Individual Demand Schedules for a Market