Answer to Question #167535 in Management for ERICA

Question

20 women went to the market to buy a bag of rice which cost $50 per bag . 10 women had$60 each and 5 women had $40 each and the rest of the women had $25 each . Calculate the level of demand.

Answer 1

Among twenty women who wished to buy a bag of rice which cost $ 50 with each pushing power at , $60 (10 women), $ 40 (5 women) and $ 25 (5 women) respectively , only ten women having each $ 60 had the purchasing power to buy the the bag of rice at $50 .

The level of demand is therefore

$= 10 \times 50 = 500$

= $ 500