-Refer to the Above Table

question 208

Multiple Choice

-Refer to the above table. The price of a hamburger is $2, the price of a movie is $10, and the consumer has $44. What is the change in quantity demanded of hamburgers if the price of a hamburger decreases to $1?

• A) Quantity demanded increases by 1 hamburger.
• B) Quantity demanded increases by 2 hamburgers.
• C) Quantity demanded increases by 3 hamburgers.
• D) Quantity demanded increases by 4 hamburgers.

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Definitions:

Unanimous Consent

Agreement on a matter by all members of a group, committee, or assembly without any opposition.

Manage the Business

The process of overseeing and making decisions about the operations, finances, and strategy of a business to ensure its success and sustainability.

Three Partners

Refers to a business structure where three individuals engage in a partnership to conduct business together.

Single Person

An individual not currently in a legal marriage or similar partnership; also refers to entities or businesses owned by one person.