(Table) the Table Shows the Demand Schedules for Three Individuals

question 165

Multiple Choice

(Table) The table shows the demand schedules for three individuals. Which table would be the CORRECT market demand schedule? $$\begin{array} { | r | r | r | r | } \hline \text { Price } & \text { Person 1 } & \text { Person 2 } & \text { Person 3 } \\\hline \mathbf { \$ 0 . 0 0 } & 9 & 15 & 10 \\\hline \mathbf { \$ 1 0 . 0 0 } & 6 & 11 & 8 \\\hline \mathbf { \$ 2 0 . 0 0 } & 5 & 10 & 6 \\\hline \mathbf { \$ 3 0 . 0 0 } & 3 & 9 & 4 \\\hline \mathbf { \$ 4 0 . 0 0 } & 0 & 6 & 2 \\\hline \mathbf { \$ 5 0 . 0 0 } & 0 & 4 & 0 \\\hline \mathbf { \$ 6 0 . 0 0 } & 0 & 2 & 0 \\\hline\end{array}$$

• A)
• \[\begin{array} { | r | r | }
• \hline \text { Price } & \text { Quantity } \\
• \hline \$ 0.00 & 15 \\
• \hline \$ 10.00 & 11 \\
• \hline \$ 20.00 & 10 \\
• \hline \$ 30.00 & 9 \\
• \hline \$ 40.00 & 6 \\
• \hline \$ 50.00 & 4 \\
• \hline \$ 60.00 & 2 \\
• \hline
• \end{array}\]
• B)
• \[\begin{array} { | r | r | }
• \hline \text { Price } & \text { Quantity } \\
• \hline \$ 0.00 & 9 \\
• \hline \$ 10.00 & 6 \\
• \hline \$ 20.00 & 5 \\
• \hline \$ 30.00 & 3 \\
• \hline \$ 40.00 & 0 \\
• \hline \$ 50.00 & 0 \\
• \hline \$ 60.00 & 0 \\
• \hline
• \end{array}\]
• C)
• \[\begin{array} { | r | r | }
• \hline \text { Price } & \text { Quantity } \\
• \hline \$ 0.00 & 34 \\
• \hline \$ 10.00 & 25 \\
• \hline \$ 20.00 & 21 \\
• \hline \$ 30.00 & 16 \\
• \hline \$ 40.00 & 8 \\
• \hline \$ 50.00 & 4 \\
• \hline \$ 60.00 & 2 \\
• \hline
• \end{array}\]
• D)
• \[\begin{array} { | r | r | }
• \hline \text { Price } & \text { Quantity } \\
• \hline \$ 0.00 & 10 \\
• \hline \$ 10.00 & 8 \\
• \hline \$ 20.00 & 6 \\
• \hline \$ 30.00 & 4 \\
• \hline \$ 40.00 & 2 \\
• \hline \$ 50.00 & 0 \\
• \hline \$ 60.00 & 0 \\
• \hline
• \end{array}\]

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Definitions:

Commodity

A basic good used in commerce that is interchangeable with other goods of the same type, often applied to raw materials and agricultural products.

Profit

The financial gain realized when the amount earned from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Racial Passing

The act of a person classified as a member of one racial group being accepted or identifying as a member of another, often to escape racial discrimination.

White Ethnics

Refers to individuals of European descent, other than those of Anglo-Saxon background, who maintain cultural practices, values, or ways of life associated with their heritage.