Refer to table 3 1 the table above shows the demand

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7)  Refer to Table 3 - 1 .  The table above shows the demand schedules for loose - leaf tea of two individuals (Sunil and Mia) and the rest 
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of the market. At a price of $5, the quantity demanded in the market would be 7) _______ A) 51 lbs. B) 63 lbs. C) 76 lbs D) 146 lbs. 8) The income effect of a price change refers to the impact of a change in 8) _______ 9) If an increase in income leads to a decrease in the demand for popcorn, then popcorn is  9) _______ 10) Elvira decreased her consumption of bananas when the price of peanut butter increased. For Elvira, peanut butter and bananas are 10) ______ 11) Suppose that when the price of hamburgers decreases, the Ruiz family increases their purchases of ketchup. To the Ruiz family, 11) ______ A) hamburgers and ketchup and substitutes. B) hamburgers and ketchup are complements.  C) hamburgers and ketchup are normal goods.  D) hamburgers are normal goods and hot dogs are inferior goods.  12) What is the difference between an "increase in supply" and an "increase in quantity supplied"? 12) ______ 13) In October, market analysts predict that the price of platinum will fall in November.  What happens in the platinum market in  October, holding everything else constant?  13) ______ Figure 3 - 2
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