The Table Given Below Reports the Quantity Demanded of a Good

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

-If the price of hot dogs were to decrease, which of the following changes would we expect to occur in the hot dog bun market?

A) The equilibrium price of hot dog buns would decrease and the quantity of hot dog buns sold would increase.
B) The equilibrium price of hot dog buns would increase and the quantity of hot dog buns sold would decrease.
C) The equilibrium price of hot dog buns would increase and the quantity of hot dog buns sold would increase.
D) The equilibrium price of hot dog buns would decrease and the quantity of hot dog buns sold would decrease.
E) The equilibrium price of hot dog buns would stay the same and the quantity of hot dog buns sold would increase.

Correct Answer:

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