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30 April, 18:10

Suppose there are only three people in the economy: Jane, Harry, and Bob. The individual demand for corn for each of these consumers is given in Exhibit 3-1. The total quantity demanded of corn if the market price is $5 is Group of answer choices

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  1. 30 April, 21:33
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    Answer: 35

    Explanation:

    The individual demand for corn for each of these consumers as given in Exhibit 3-1.

    QD = 40 - P

    With Market Price, P = $5

    Quantity Demanded, QD = 40 - 5

    = 35
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