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When the price of a salad is $4, Brock has $24 to spend. If the price falls to $2, how many salads does Brock buy? What are two points on the demand curve for salads?

a) 3 salads; (4, 6)
b) 5 salads; (6, 4)
c) 6 salads; (2, 4)
d) 8 salads; (4, 2)

Answer :

Final answer:

Brock can buy 12 salads when the price falls from $4 to $2. The two points on the demand curve would be (4, 6) and (2, 12), showing that as the price decreases, the quantity Brock is willing to buy increases.

Explanation:

The basic understanding of economics specifically related to supply and demand curves and consumer behavior. If Brock has $24 to spend on salads and the price per salad drops from $4 to $2, then Brock can afford to buy more salads with the same budget. Originally, at $4 per salad, Brock could buy 6 salads ($24 / $4 = 6). When the price falls to $2, Brock can now buy 12 salads ($24 / $2 = 12). So, the correct answer is Brock will be able to buy 12 salads, not 3, 5, 6, or 8.

For the demand curve points, one point is the original price and quantity combination before the price change, which is (4, 6). After the price falls to $2, Brock is willing to buy 12 salads, so the second point on the demand curve is (2, 12). Therefore, letter d) is incorrect because it lists (4, 2) instead of (2, 12).

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