Exhibit 4-1 -Refer to Exhibit

Exhibit 4-1
$\begin{array}{|c|c|c|c|c|}\hline \begin{array}{c} \text{Price per lb.} \\\text{of ice cream}\end{array} & \text{Sven }&\text{ Larry} & \begin{array}{c} \text{Rest of} \\\text{Market}\end{array}&\text{ Market} \\\hline \$ 8 & 5 & 0 & 7 & \\\hline\$ 6 & 8 & 5 & 9 & \\\hline \$ 5 & 11 & 9 & 11 & \\\hline \$ 4 & 14 & 11 & 14 & \\\hline\$ 3 & 17 & 14 & 20 & \\\hline\end{array}$
-Refer to Exhibit. Shown are the demand schedules for gourmet ice cream of two individuals and the rest of the market. At a price of $8, the quantity demanded in the market would be:

A) 12
B) 22
C) 31
D) 39

Correct Answer:

Verified

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