(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:

Span Of Time

Span of time refers to the duration or length of a period between two points in time.

Poisson Distribution

A probability distribution that expresses the probability of a given number of events happening in a fixed interval of time or space, assuming these events happen with a known constant rate and independently of the time since the last event.

Probability Of Occurrence

The likelihood of an event happening, measured on a scale from 0 (impossibility) to 1 (certainty).

Span Of Time

The duration or extent between two points in time.