Suppose the three buyers in the table are the only buyers in the market. If the price of a hamburger decreases from $6 to $4, the quantity of hamburgers demanded will

Consumers maximízestheirutiliy when Ybren a. The marginal utility of each good is equal 6. The marginal utility per rial spent on each good is equal to zero across ll commodities c. The ratio of the prices facing any one consumer is equal to that facing any other consumer (d.) None of the above, PE = -0-8

how does each consumers indivual consumer surplus change

Sohail’s income declines and as a result, he buys more pumpkin juice. Is pumpkinjuice an inferior or a normal good? What happens to Sohail’s demand curve forpumpkin juice?

Suppose there are 100 consumers with identical individual demand curves. When the price ofa movie ticket is $8, the quantity demanded for each person is 5. When the price is $4, thequantity demanded for each person is 9. Assuming the law of demand holds, which of thefollowing choices is the most likely quantity demanded in the market when the price is $6? Group of answer choices  700 1,000 1,200 400

There are three consumers in the market for potato chips; Don, Peggy, and Pete. The following table displays each consumers' demand schedule for potato chips. For each blank space, type in the correct answer (write your answer as a number). Price per bag ($) .25 .50 .75 1.00 1.25 1.50 Don's demand 7 6 5 4 3 2 Peggy's demand 10 8 6 4 2 0 Pete's demand 6 5 4 3 2 1 a) At a price of $0.75 per bag, the quantity demanded by the market is [Select] units of potato chips. b) Suppose that the price of potato chips is initially $0.75 and increases to $1.25. There is [Select] by the market that is equal to [Select] units of potato chips. c) Suppose that Pete decides to go on a diet and will no longer purchases potato chips at any price. In addition, after Pete has left the market, suppose that we observe that the quantity of potato chips demanded by the market is equal to 14 units. We can therefore infer that the market price is [Select]

A consumer has income of 15000. Masks costs $35 per mask, and sanitizers cost $70 per bottle. Suppose his income increases from 15000 to 20000 . Illustrate what happens if both masks and sanitizers are normal goods. Illustrate if a mask is an inferior good

25.When the market for a priduct clears a) the price will decrese b)there is a shortage  c) there is a srplus d)qunatity demanded=quantity supplied

Need help with drawing the demand curve

At the beginning of the pandemic, millions of people became unemployed. Around the same time, the demand for rice increased dramatically. Rice is what type of good? O An inferior good A substitute A normal good A complement