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 rises from $65 to $75, the market quantity demanded would
A)decrease by 36 oz.
B)increase by 52 oz.
C)increase by 36 oz.
D)decrease by 52 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 rises from $65 to $75, the market quantity demanded would
A)decrease by 36 oz. 
B)increase by 52 oz. 
C)increase by 36 oz. 
D)decrease by 52 oz.

Quizplus · Accepted Answer

The market quantity demanded decreases by 36 oz when the price rises from $65 to $75, as both Ari and Sonia, along with the rest of the market, demand less caviar at the higher price.

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