Exhibit 3-1  Market Demand Suppose There Are Only Three People

question 68

Multiple Choice

Exhibit 3-1  Market demand Suppose there are only three people in the economy: Jane, Harry, and Bob. The individual demand for corn for each of these consumers is given in Exhibit 3-1. The total quantity demanded of corn if the market price is $4 is ____.

• A) 3
• B) 25
• C) 17
• D) 8
• E) 36

---

Definitions:

Litigation Crisis

A situation where a business or individual faces significant legal challenges that could adversely affect their public image, finances, and overall stability.

Product Crisis

A situation where a defect or negative revelation about a product significantly impacts a company's reputation and customer trust.

Image Restoration Theory

A framework outlining strategies an individual or organization can use to repair their reputation following a crisis.

PR Professionals

Individuals skilled in managing and enhancing the public image and relationships of organizations or individuals.