The following table contains a demand schedule for a good. If the law of demand applies to this good, then Q1 could be

Question

The following table contains a demand schedule for a good.  If the law of demand applies to this good, then Q1 could be

Quizplus · Accepted Answer

According to the law of demand, as the price of a good increases, the quantity demanded decreases, and as the price decreases, the quantity demanded increases. Looking at the table, we can see that as the price increases from $10 to $20, the quantity demanded decreases from 400 to 200, which indicates that the law of demand applies to this good. Therefore, at a price of $50, the quantity demanded would be zero, as indicated in the table. Thus, the best choice is A) 0.

The Following Table Contains a Demand Schedule for a Good