This Table Shows Individual Demand Schedules for a Market

question 75

Multiple Choice

This table shows individual demand schedules for a market. According to the table shown, what can be said of Betty and Barney's demand for this good?

• A) Betty's and Barney's demand both follow the law of demand.
• B) Barney's demand follows the law of demand, but Betty's does not.
• C) Betty's demand follows the law of demand, but Barney's does not.
• D) Neither Betty's nor Barney's demand follows the law of demand.

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Definitions:

Negotiations

The process by which two or more parties aim to reach a mutual agreement through dialogue and compromise on a matter of mutual interest.

Treaty of Fort Stanwix

A 1768 agreement between Native American nations and British colonists, establishing boundary lines in what is now the United States.

Iroquois Confederacy

The Iroquois Confederacy, also known as the Haudenosaunee or Six Nations, was a powerful and influential alliance of six Native American tribes primarily located in the northeastern United States and southeastern Canada.

Reservations

In the context of American history, these are tracts of land managed by a Native American tribe under the U.S. Bureau of Indian Affairs, where the federal government recognizes the tribe's sovereignty to a degree.