The table below shows the weekly demand for hamburgers in a market where there are just three buyers.PriceQuantity Demanded by Buyer 1Quantity Demanded by Buyer 2Quantity Demanded by Buyer 3$6746597841510123211516Refer to the table. If the price of a hamburger decreases from $6 to $5, then the weekly market quantity demanded will
A. increase from 17 to 24.
B. increase from 24 to 52.
C. decrease from 24 to 17.
D. decrease from 52 to 24.
Answer: A
You might also like to view...
Often bar owners will require that patrons stand in a line to get a wristband entitling them to pay a preferred price for drinks if they arrive early to the bar
The wristbands are typically tamper- resistant and can be easily identified if patrons have been switching wristbands with other customers. What is the bar owner concerned about and why does he make his patrons wear these bands?
The GDP deflator is a measure of the overall change in prices in an economy:
A. based on goods and services valued at constant prices. B. using the ratio of real to nominal GDP. C. based on price-changes determined when output is held constant. D. using the ratio of nominal to real GDP.
Suppose you sell a kayak for $600, but you were willing to sell it for $450 . The buyer was willing to pay $650 . The total surplus is $200
a. True b. False Indicate whether the statement is true or false
When actual GDP goes below potential GDP, it means that
A. deflation is imminent. B. economic activity has slowed. C. economic activity has increased. D. inflation is imminent.