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 2 may have been due to:

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 2 may have been due to:

Quizplus · Accepted Answer

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 2 cannot be due to an increase in price (D) or an increase in the price of a complementary good (E) because both of these would lead to a decrease in quantity demanded. It also cannot be due to a decrease in the number of sellers (B) because the number of sellers does not affect the demand schedule. Therefore, the only possible explanation is an increase in the number of buyers (C), which would lead to an increase in quantity demanded at each price level.

The Table Given Below Reports the Quantity Demanded of a Good