Refer to the figure below. If Mallory and Rick are the only two consumers in this market and the price of soda increases from $0.75 to $1.00 per can, the quantity of soda demanded in the market will ______ by ______ cans per week.
A)decrease; 20
B)increase; 20
C)decrease; 40
D)increase; 40

Question

Refer to the figure below. If Mallory and Rick are the only two consumers in this market and the price of soda increases from $0.75 to $1.00 per can, the quantity of soda demanded in the market will ______ by ______ cans per week.  
A)decrease; 20 
B)increase; 20 
C)decrease; 40 
D)increase; 40

Quizplus · Accepted Answer

According to the figure, when the price of soda increases from $0.75 to $1.00 per can, the quantity demanded by Mallory decreases from 20 to 10 cans, and the quantity demanded by Rick decreases from 40 to 20 cans. Therefore, the total quantity demanded in the market decreases by (20+40) - (10+20) = 30 cans.

Refer to the Figure Below