Table 4-7
the Table Below Shows the Quantities Demanded of Milk

question 82

Short Answer

Table 4-7
The table below shows the quantities demanded of milk per month by four families at various prices.
$$\begin{array} { | l | l | l | l | l | } \hline \begin{array} { l } \text { Price of Gallon of } \\\text { Milk }\end{array} & \begin{array} { l } \text { The Berman } \\\text { Family }\end{array} & \begin{array} { l } \text { The Johnson } \\\text { Family }\end{array} & \begin{array} { l } \text { The Harris } \\\text { Family }\end{array} & \text { The Patel Family } \\\hline \$ 3.00 & 9 & 15 & 12 & 14 \\\hline \$ 4.00 & 8 & 12 & 10 & 10 \\\hline \$ 5.00 & 7 & 9 & 8 & 6 \\\hline \$ 6.00 & 6 & 6 & 6 & 2 \\\hline\end{array}$$
-Refer to Table 4-7. If the four families listed are the only demanders in this market and the price of a gallon of milk increases from $4.00 to $5.00, what is the change in the market quantity demanded?

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Definitions:

Business Reply Card

A pre-addressed and prepaid postcard or form included with a mailing, allowing the recipient to respond easily to the sender.

Stimulus-Response Selling

A sales technique based on the premise that specific stimuli can elicit predictable responses from customers, guiding them towards a purchase.

Cold Canvassing

A sales technique involving unsolicited contact with potential customers who had no prior interaction with the salesperson.

Personal Selling Process

A series of steps salespeople follow when selling, which includes prospecting, making contact, presenting, handling objections, closing, and follow-up.