Jill and Jed have individual demand curves for tennis rackets given in the table above and are the only two demanders in the market. What is the market quantity demanded at the price of $30?
A) 2
B) 5
C) 11
D) 18
B
You might also like to view...
Cigarettes are highly addictive and therefore have a very low elasticity of demand. A $2.00 increase in the national sales tax on cigarettes would likely cause the price paid by buyers of cigarettes to
A) increase by more than $1.00 but less than $2.00. B) increase by $2.00. C) increase by more than $2.00. D) increase by less than $1.00. E) remain unchanged.
If the nominal gross domestic product (GDP) for the year 2000 was $6.2 trillion and the price index was 200, the real gross domestic product (GDP) for 2000 was _____
a. $3.1 trillion b. $6.2 trillion c. $12.4 trillion d. $18.6 trillion e. $24.3 trillion
A person is risk neutral if:
A. her indifference curve is concave to the origin. B. her indifference curve is convex to the origin. C. her indifference curve coincides with the expected consumption line. D. her indifference curve coincides with guaranteed consumption line.
Generally, as levels of pollution are reduced
A. marginal costs from the reduction decrease. B. marginal costs from the reduction increase. C. marginal benefits from the reduction increase. D. marginal costs from the reduction stay the same.