Suppose the Market for Shoes Consists of Three Consumers What Is the Market Demand for Shoes When the Price

question 112

Multiple Choice

Suppose the market for shoes consists of three consumers. The accompanying table shows the quantity demanded at various prices for each consumer: $$\begin{array} { | c | r | r | r | } \hline \begin{array} { c } \text { Price } \\\text { Per Pair }\end{array} & \begin{array} { c } \text { Pairs Demanded } \\\text { by Pat }\end{array} & \begin{array} { c } \text { Pairs Demanded } \\\text { by Leigh }\end{array} & \begin{array} { c } \text { Pairs Demanded } \\\text { by Chris }\end{array} \\\hline \$ 100 & \mathbb { 0 } & 1 & 0 \\\hline \$ 75 & 0 & 3 & 1 \\\hline \$ 50 & 1 & 7 & 3 \\\hline \$ 30 & 2 & 10 & 5 \\\hline\end{array}$$  
What is the market demand for shoes when the price is $50 a pair?

• A)7 pairs
• B)11 pairs
• C)15 pairs
• D)It will depend on the quantity supplied when the price is $50 a pair.

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