Suppose at a Price of $3, Kerri Is Willing and Able

question 15

Multiple Choice

Suppose at a price of $3, Kerri is willing and able to buy three churros, Tömas is willing and able to buy five churros, and Pristine is willing and able to buy two churros. Assuming these are the only consumers in the market, the quantity demanded at $3 is _____; if the price falls to $2, the quantity demanded is likely to _____.

• A) ten; increase
• B) ten; decrease
• C) eight; increase
• D) eight; decrease

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Definitions:

Pheromones

Chemical signals released by an organism that influence the behavior or physiology of other members of the same species.

Chemical Communication

The use of chemical signals between organisms, which can regulate behavior, identify individuals or species, and signal threats or resources.

Visual Signals

Information conveyed through visible signs or gestures, often essential for communication in animals, including humans.

Auditory Signals

Sounds that are detected by the ear and interpreted by the brain, important for communication and environmental awareness.