Relationship among the price of a good and quantity people

Question

Multiple choice questions on demand and price elasticity.

A. Demand is the defined as the

1. amount of a commodity which buyers would be willing and able to purchase at a specific price
2. price which buyers would be willing and able to pay for a specific quantity of a good
3. relationship between the price of a good and the quantity people are able to purchase and independent variables which determine quantity
4. Relationship between the price of a good and the quantity people are willing and able to purchase and the independent variables which determine quantity.

B. A decrease in the price of eggs will result in a

1. increase the demand for eggs
2. increase in the supply of eggs
3. greater amount of eggs supplied
4. greater amount of eggs demanded

C. The demand for chocolate covered peanuts

Quantity Demanded

(Bags per month)

Price (per bag)	George	Barbara	Dan
90	10	0	60
80	15	10	80
70	20	20	100
60	25	30	120
50	30	40	140
40	35	50	160
30	40	60	180