Refer to Table 3-1. The table above shows the demand schedules for loose-leaf tea of two individuals (Sunil and Mia) and the rest of the market. If the price of loose-leaf tea rises from $3 to $4, the market quantity demanded would
A. decrease by 32 lbs.
B. increase by 64 lbs.
C. increase by 32 lbs.
D. decrease by 64 lbs.
Answer:A
Refer to Table 3-1. The table above shows the demand schedules for loose-leaf tea of two individuals (Sunil and Mia) and the rest of the market. If the price of loose-leaf tea rises from $3 to $4, the market quantity demanded would
A. decrease by 32 lbs. B. increase by 64 lbs. C. increase by 32 lbs. D. decrease by 64 lbs.