The table given below reports the quantity demanded of a good by individuals 1, 2, and 3 at different prices.Table 3.1

-Refer to Table 3.1. If Quantity Demanded 1, Quantity Demanded 2, and Quantity Demanded 3 are market demand schedules, then the change from Quantity Demanded 1 to Quantity Demanded 3 may have been due to:
A)an increase in price.
B)an increase in the number of sellers.
C)a decrease in price.
D)a decrease in the number of buyers.
E)an increase in the price of a substitute good.

Question

The table given below reports the quantity demanded of a good by individuals 1, 2, and 3 at different prices.Table 3.1
 
-Refer to Table 3.1. If Quantity Demanded 1, Quantity Demanded 2, and Quantity Demanded 3 are market demand schedules, then the change from Quantity Demanded 1 to Quantity Demanded 3 may have been due to:
A)an increase in price. 
B)an increase in the number of sellers. 
C)a decrease in price. 
D)a decrease in the number of buyers. 
E)an increase in the price of a substitute good.

Quizplus · Accepted Answer

The Answer of The table given below reports the quantity demanded of a good by individuals 1, 2, and 3 at different prices.Table 3.1
 
-Refer to Table 3.1. If Quantity Demanded 1, Quantity Demanded 2, and Quantity Demanded 3 are market demand schedules, then the change from Quantity Demanded 1 to Quantity Demanded 3 may have been due to:
A)an increase in price. 
B)an increase in the number of sellers. 
C)a decrease in price. 
D)a decrease in the number of buyers. 
E)an increase in the price of a substitute good.

The Table Given Below Reports the Quantity Demanded of a Good