Suppose the market for shoes consists of three consumers. The table below shows the quantity demanded at various prices for each consumer: $$\begin{array} { | c | c | c | c | }
\hline \begin{array} { c }
\text { Price Per } \
\text { Pair }
\end{array} & \begin{array} { c }
\text { Pairs } \
\text { Demanded } \
\text { by Pat }
\end{array} & \begin{array} { c }
\text { Pairs } \
\text { Demanded } \
\text { by Leigh }
\end{array} & \begin{array} { c }
\text { Pairs } \
\text { Demanded } \
\text { by Chris }
\end{array} \
\hline \$ 100 & 0 & 1 & 0 \
\hline \$ 75 & 0 & 3 & 1 \
\hline \$ 50 & 1 & 7 & 3 \
\hline \$ 30 & 2 & 10 & 5 \
\hline
\end{array}$$ The data suggest that Leigh:
A)has a higher income than either Pat or Chris do.
B)does not experience diminishing marginal utility.
C)prefers shoes to other items that are for sale.
D)has a greater demand for shoes than either Pat or Chris do.

Question

Suppose the market for shoes consists of three consumers. The table below shows the quantity demanded at various prices for each consumer: $$\begin{array} { | c | c | c | c | } 
\hline \begin{array} { c } 
\text { Price Per } \
\text { Pair }
\end{array} & \begin{array} { c } 
\text { Pairs } \
\text { Demanded } \
\text { by Pat }
\end{array} & \begin{array} { c } 
\text { Pairs } \
\text { Demanded } \
\text { by Leigh }
\end{array} & \begin{array} { c } 
\text { Pairs } \
\text { Demanded } \
\text { by Chris }
\end{array} \
\hline \$ 100 & 0 & 1 & 0 \
\hline \$ 75 & 0 & 3 & 1 \
\hline \$ 50 & 1 & 7 & 3 \
\hline \$ 30 & 2 & 10 & 5 \
\hline
\end{array}$$ The data suggest that Leigh:
A)has a higher income than either Pat or Chris do.
B)does not experience diminishing marginal utility.
C)prefers shoes to other items that are for sale.
D)has a greater demand for shoes than either Pat or Chris do.

Quizplus · Accepted Answer

Based on the table, we can see that Leigh demands more shoes at every price than either Pat or Chris. This suggests that Leigh has a greater demand for shoes than either Pat or Chris do. The information provided does not allow us to determine anything about Leigh's income, marginal utility, or preferences for shoes over other items.

Suppose the Market for Shoes Consists of Three Consumers The Data Suggest That Leigh: A)has a Higher Income Than

Suppose the Market for Shoes Consists of Three Consumers The Data Suggest That Leigh:
A)has a Higher Income Than