The Table Given Below Reports the Quantity Demanded of a Good

question 38

Multiple Choice

The table given below reports the quantity demanded of a good by individuals 1, 2, and 3 at different prices.
Table 3.1
$\begin{array}{|cccc|}\hline\begin{array}{c}\text { Price per } \\\text { DVD (\$) }\end{array} & \begin{array}{c}\text { Quantity } \\\text { Demanded 1 }\end{array} & \begin{array}{c}\text { Quantity } \\\text { Demanded 2 }\end{array} & \begin{array}{c}\text { Quantity } \\\text { Demanded 3 }\end{array} \\5 & 10 & 15 & 5 \\4 & 20 & 25 & 15 \\3 & 30 & 35 & 25 \\2 & 40 & 45 & 35 \\1 & 50 & 55 & 45 \\\hline\end{array}$
-Refer to Table 3.1. If Quantity Demanded 1, Quantity Demanded 2, and Quantity Demanded 3 are market demand schedules, then the change from Quantity Demanded 1 to Quantity Demanded 3 may have been due to:

• A) an increase in price.
• B) an increase in the number of sellers.
• C) a decrease in price.
• D) a decrease in the number of buyers.
• E) a decrease in the price of a substitute good.

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Definitions:

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Marginal Tax Rate

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Depreciated Fixed Asset

A long-term asset that has decreased in value due to wear and tear, age, or obsolescence.

SA/MID Address Code

A specific identifier used in networking, particularly with CAN (Controller Area Network) protocols, to designate a source address or module identification in vehicle communications.