MULTIPLE CHOICE.  Choose the one alternative that best completes the statement or answers the question. Table 3-1 Loose Leaf Tea Price per lb. (dollars) Sunil's Quantity Demanded (lbs) Mia's Quantity Demanded (lbs) Rest of Market Quantity Demanded (lbs) Market Quantity Demanded (lbs) $8   4 0 30     6   7 2 40     5   9 3 51     4 12 5 64     3 15 8 90     12) Refer to Table 3-1. The table above shows the demand schedules for loose-leaf tea of two individuals (Sunil and Mia) and the rest of the market. At a price of $5, the quantity demanded in the market would be    12) ______   A) 51 lbs. B) 63 lbs. C) 76 lbs.              D) 146 lbs.

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Chapter1: Making Economics Decisions
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MULTIPLE CHOICE.  Choose the one alternative that best completes the statement or answers the question.

Table 3-1

Loose Leaf Tea

Price per lb.

(dollars)

Sunil's

Quantity Demanded (lbs)

Mia's

Quantity Demanded (lbs)

Rest of Market

Quantity

Demanded (lbs)

Market

Quantity Demanded (lbs)

$8

  4

0

30

 

  6

  7

2

40

 

  5

  9

3

51

 

  4

12

5

64

 

  3

15

8

90

 

 

12) Refer to Table 3-1. The table above shows the demand schedules for loose-leaf tea of two individuals (Sunil and Mia) and the rest of the market. At a price of $5, the quantity demanded in the market would be    12) ______

 

  1. A) 51 lbs. B) 63 lbs. C) 76 lbs.              D) 146 lbs.
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