Table 3-1

-Refer to Table 3-1.The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi)and the rest of the market.At a price of $6,the quantity demanded in the market would be
A)36 lb.
B)68 lb.
C)89 lb.
D)123 lb.

Question

Table 3-1
 
-Refer to Table 3-1.The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi)and the rest of the market.At a price of $6,the quantity demanded in the market would be
A)36 lb. 
B)68 lb. 
C)89 lb. 
D)123 lb.

Quizplus · Accepted Answer

The market demand is the sum of individual demands. If Luke and Ravi's demands at $6 are given, add them to the rest of the market's demand at the same price to find the total market demand.

Table 3-1 -Refer to Table 3-1.The Table Above Shows the Demand Schedules