There Are Three Consumers in the Market for Playing Cards

question 21

Multiple Choice

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 that of John and Ron.
• 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.

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Definitions:

Social Cognitive Theory

A theory in psychology that states behavior is learned from the environment through the process of observational learning and social interaction.

Behavioral Perspectives

A viewpoint in psychology that emphasizes the importance of observing and understanding how behavior is influenced by the environment and internal mental states.

Moderately Consistent

Describes a level of regularity and predictability in behavior or phenomena that is neither high nor low but within a middle range.

Animal Research

Scientific studies conducted on animals to gain insights into biology, psychology, and medicine that may also apply to humans.