The Table Given Below Reports the Quantity Demanded of a Good

question 86

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

-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)an increase in the price of a substitute good.

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Definitions:

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The act of wearing protective gear historically used in combat; metaphorically can refer to preparing oneself for challenging situations.

Rejection

The act of refusing or not accepting a proposal, offer, idea, etc., often encountered in sales situations.

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Proverb

A short, wise, easy-to-learn saying that calls a person to think and act.