Refer to the Table Below Assume That the Market for IPhones Has Only Two Consumers

question 59

Multiple Choice

Refer to the table below: $$\begin{array} { c c l } \hline \begin{array} { c } \text { Price of } \\\text { iPhones }\end{array} & \begin{array} { c } \text { Chriaty's } \\\text { Demand }\end{array} & \begin{array} { l } \text { Lori's } \\\text { Demand }\end{array} \\\hline \$ 700.00 & 0 & 0 \\\$ 650.00 & 1 & 0 \\\$ 500.00 & 1 & 1 \\\$ 450.00 & 2 & 1 \\\$ 300.00 & 4 & 2 \\\$ 275.00 & 5 & 3 \\\$ 250.00 & 6 & 4 \\\$ 100.00 & 7 & 4 \\\$ 50.00 & 10 & 5\\\hline\end{array}$$ Assume that the market for iPhones has only two consumers: Christy and Lori. According the table above, if the price of an iPhone is $285, the market will demand__________ iPhones.

• A) 8
• B) 6
• C) 5
• D) 28
• E) 45

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