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:

Maslow

He theorized that people are motivated to achieve certain needs and that some needs take precedence over others, starting with physiological needs and ending with self-actualization.

Self-actualizers

Individuals who achieve their highest potential in their own unique way, fulfilling what Abraham Maslow termed self-actualization.

Emotionally Healthy People

Individuals who exhibit a high level of emotional intelligence, including awareness, control, and expression of emotions in a balanced and constructive manner.

Maslow

Abraham Maslow, an American psychologist best known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs.