Business, 28.02.2020 02:05, itscheesycheedar
There are three consumers in the market for playing cards: Don, John, and Ron. At a price of $2 per pack, the quantities demanded by each are 3 packs, 2 packs, and 1 pack, respectively. At a price of $1.50 per pack, the quantities demanded by each are 4 packs, 5 packs, and 3 packs, respectively. Which of the following is true
A. The market demand curve for playing cards does not follow the law of demand.
B. The decrease in price causes the quantity demanded in this market to increase by 6 packs.
C. The price decrease causes Don’s demand curve to shift more than Jon’s and Ron’s.
D. At a price of $1 per pack, the quantity demanded in this market must be 20 packs.
E. Don’s behavior does not follow the law of demand.
Answers: 3
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There are three consumers in the market for playing cards: Don, John, and Ron. At a price of $2 per...
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