Scenario: a Market Researcher Asks Three Consumers, A, B, and C

Scenario: A market researcher asks three consumers, A, B, and C, about their willingness to pay for different quantities of a 20-ounce bottle of Lemon-Lime Gatorade. She collects the following information.

-Refer to the scenario above.What is the change in the quantity demanded in the market if the price of Gatorade falls from $4 per 20-ounce bottle to $3 per 20-ounce bottle?

A) No increase
B) Increase of 1 bottle
C) Increase of 2 bottles
D) Increase of 4 bottles

Correct Answer:

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