A survey of 500 people finds that when the price of a table is $100, the people in the survey will buy a total of 250 tables. Suppose the total market size is 2,000 people. When the price of a table is $100, what is the total number of tables that will be sold in the market? 100 250 500 1,000

A survey of 500 people finds that when the price of a table is $100, the people in the survey will buy a total of 250 tables. Suppose the total market size is 2,000 people. When the price of a table is $100, what is the total number of tables that will be sold in the market? 100 250 500 1,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A survey of 500 people finds that when the price of a table is $100, the people in the
survey will buy a total of 250 tables. Suppose the total market size is 2,000 people.
When the price of a table is $100, what is the total number of tables that will be sold
in the market?
100
250
500
1,000

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