There Are Three Consumers in the Market for Playing Cards

question 57

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, 2, and 1, respectively.At a price of $1.50 per pack, the quantities demanded by each are 4, 5, and 3, respectively.Which of the following is true?

• A)The market demand curve for playing cards does not obey the law of demand.
• B)The price decrease causes the quantity demanded in this market to increase by 6.
• C)The price decrease causes John's demand curve to shift the most.
• D)At a price of $1 per pack, the quantity demanded in this market must be 20.
• E)Don's behavior does not obey the law of demand.

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Definitions:

Cationic

Refers to species (typically ions) that have a net positive charge.

Teflon

A synthetic fluoropolymer of tetrafluoroethylene that has numerous applications, known for its non-reactivity and ability to withstand high temperatures.

Poly(methyl α-cyanoacrylate)

A type of cyanoacrylate polymer that is used as a powerful adhesive in various applications, known commonly as super glue.

Radical Addition

This refers to a chemical reaction wherein radicals (atoms, molecules, or ions with unpaired electrons) are added to other molecules, often leading to polymerization or other significant transformations.