Question
1. The table below shows the quantities demanded of milk per month by four families at various prices. Price of Gallon of The Berman
1. The table below shows the quantities demanded of milk per month by four families at various prices. Price of Gallon of The Berman Milk Family $3.00 19 $4.00 8 $5.00 $6.00 7 The Johnson Family 15 12 The Harris Family The Patel Family 12 14 10 10 18 16 16 2 6 (a) If the four families listed are the only demanders in this market and the price of a gallon of milk is $4.00, what is the market quantity demanded? (1 point) (b) If the four families listed are the only demanders in this market and the price of a gallon of milk increases from $4.00 to $5.00, what is the change in the market quantity demanded? (1 point)
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Microeconomics Principles, Problems and Policies
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn
20th edition
978-0077660819, 77660811, 978-1259450242
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