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The following table shows the demand schedules of three consumers of wine. Assume that these three ...

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The following table shows the demand schedules of three consumers of wine. Assume that these three ...

The following table shows the demand schedules of three consumers of wine. Assume that these three buyers constitute the entire market.

Price ($ per bottle)	Sandra's Demand (bottles)	David's Demand (bottles)	Mary's Demand (bottles)
8	2		10
6	14	15	18
4		23	24
2	24	27	28

Refer to the table above. If the market price of wine is $8 per bottle, and the market demand for wine is 19 bottles, David's consumption of wine is ________.

▸ 4 bottles

▸ 9 bottles

▸ 12 bottles

▸ 7 bottles

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

Read 38 times

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