The table given below reports the quantity demanded of a good by individuals 1, 2, and 3 at different prices.Table 3.1

-Refer to Table 3.1. If Quantity Demanded 1, Quantity Demanded 2, and Quantity Demanded 3 are market demand schedules, then the change from Quantity Demanded 1 to Quantity Demanded 2 may have been due to:
A)an increase in price.
B)a decrease in the number of sellers.
C)an increase in the number of buyers.
D)a decrease in price.
E)an increase in the price of a complementary good.

Question

The table given below reports the quantity demanded of a good by individuals 1, 2, and 3 at different prices.Table 3.1
 
-Refer to Table 3.1. If Quantity Demanded 1, Quantity Demanded 2, and Quantity Demanded 3 are market demand schedules, then the change from Quantity Demanded 1 to Quantity Demanded 2 may have been due to:
A)an increase in price. 
B)a decrease in the number of sellers. 
C)an increase in the number of buyers. 
D)a decrease in price. 
E)an increase in the price of a complementary good.

Quizplus · Accepted Answer

The change from Quantity Demanded 1 to Quantity Demanded 2, if it represents an increase in the total quantity demanded at each price level, is most likely due to an increase in the number of buyers in the market. This would shift the market demand curve to the right, indicating a higher quantity demanded at each price point.

The Table Given Below Reports the Quantity Demanded of a Good