The Table Below Shows the Weekly Demand for Hamburger in a Market

question 93

Multiple Choice

The table below shows the weekly demand for hamburger in a market where there are just three buyers. Refer to the above table. If the price of hamburger falls from $5 to $3, then the weekly market quantity demanded will:

• A) Increase from 24 to 52
• B) Decrease from 52 to 24
• C) Increase from 120 to 156
• D) Increase from 29 to 55

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Definitions:

Price of Rice

The current market cost at which rice is sold, influenced by factors like supply and demand, production costs, and governmental policies.

Absence of Trade

A situation where there is no exchange of goods or services between individuals, regions, or countries, often resulting in decreased economic efficiency and growth.

Tariff

A tax imposed by a government on imports or exports of goods to regulate trade policies.

Excise Tax

A sales tax levied on a particular good or service; for example, gasoline and cigarette taxes.