Table 4-2 Price (Dollars per unit) 0.00 0.50 1.00 1.50 2.00 2.50 Quantity Demanded (Units) Bert Ernie Grover Oscar 6 4 2 2018141260 16 12 10 8 6 4 000 8 6 5 4 2 0 Refer to Table 4-2. If these are the only four buyers in the market, then when the price decreases from $1.50 to $1.00, the market quantity demanded a. decreases by 2 units. O b. increases by 24 units. c. increases by 7 units. d. increases by 1.75 units.

Table 4-2 Price (Dollars per unit) 0.00 0.50 1.00 1.50 2.00 2.50 Quantity Demanded (Units) Bert Ernie Grover Oscar 6 4 2 2018141260 16 12 10 8 6 4 000 8 6 5 4 2 0 Refer to Table 4-2. If these are the only four buyers in the market, then when the price decreases from $1.50 to $1.00, the market quantity demanded a. decreases by 2 units. O b. increases by 24 units. c. increases by 7 units. d. increases by 1.75 units.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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