Question

suppose that at a price of 25 cents per orange, 500 consumers each demand 4 oranges, and at a price of 20 cents per orange, 750 consumers each demand 5 oranges. therefore, the market demand for oranges is ____ at a price of 25 cents per orange and ____ at a price of 20 cents per orange.
multiple choice
500; 750
1,250; 1,500
4; 5
2,000; 3,750

Explanation:

Step1: Calculate market demand at 25 - cent price

Multiply number of consumers by demand per consumer. $500\times4 = 2000$.

Step2: Calculate market demand at 20 - cent price

Multiply number of consumers by demand per consumer. $750\times5=3750$.

Answer:

D. 2000, 3750