Multiple Choice
There are three consumers in the market for playing cards: Don,John,and Ron.At a price of $2 per pack,the quantities demanded by each are 3 packs,2 packs,and 1 pack,respectively.At a price of $1.50 per pack,the quantities demanded by each are 4 packs,5 packs,and 3 packs,respectively.Which of the following is true?
A) The market demand curve for playing cards does not follow the law of demand.
B) The decrease in price causes the quantity demanded in this market to increase by 6 packs.
C) The price decrease causes Don's demand curve to shift more than that of John and Ron.
D) At a price of $1 per pack,the quantity demanded in this market must be 20 packs.
E) Don's behavior does not follow the law of demand.
Correct Answer:

Verified
Correct Answer:
Verified
Q16: Which of the following is most likely
Q17: In the figure given below,which of the
Q18: Producers supply larger quantities of any good
Q19: Two goods are considered substitutes only if
Q20: The figure given below shows the supply
Q22: The equilibrium point represents the only price-quantity
Q23: In the figure given below,a price floor
Q26: Which of the following is the best
Q221: Recently it has been discovered that lobsters
Q243: A price floor set below the equilibrium