11. The following table indicates the demand schedules for four types of consume
ID: 1091631 • Letter: 1
Question
11. The following table indicates the demand schedules for four types of consumers; A, B, C, and D and the number of consumers in each group (top row). The quantity demanded by each type of consumer (QA, QB, QC and QD) is shown for market prices ranging from $10 down to $4.
What is the combined quantity demanded at a market price of $4?
Number of Consumers
A=200 B= 300 C= 300 D= 200
A. 10,400 B. 416,000 C. 25,000 D. 10, 750
Market Price QA QB QC QD $10 0 0 1 1 9 0 1 2 3 8 1 3 3 5 7 2 5 4 8 6 3 7 5 11 5 4 9 6 15 4 5 11 7 20Explanation / Answer
A. 10,400-answer
A=(200 X 5) + (300 X 11 ) + ( 300 X7 )+ (200 X 20) =
1000+3300+2100+4000=10400
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