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.If the price of Kona coffee falls from $6 to $4,the market quantity demanded would
A)decrease by 89 lb.
B)increase by 26 lb.
C)increase by 61 lb.
D)increase by 110 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.If the price of Kona coffee falls from $6 to $4,the market quantity demanded would
A)decrease by 89 lb. 
B)increase by 26 lb. 
C)increase by 61 lb. 
D)increase by 110 lb.

Quizplus · Accepted Answer

The market quantity demanded increases by the sum of the increases in quantity demanded by Luke, Ravi, and the rest of the market when the price falls from $6 to $4.

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