Exhibit 3-1 Market Demand
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

Poppy Lipstick is a lipstick producer. A decrease in the rent paid by Poppy Lipstick

A) shifts its TFC curve downward but not its TVC curve. B) shifts both its TFC curve and its TVC curve downward. C) does not shift its TFC curve but shifts its TVC curve upward. D) does not shift its TFC curve but shifts its TVC curve downward.

The Sherman Antitrust Act of 1890

(a) did not specify what economic actions are legal. (b) said that only competitive economic actions were legal. (c) declared illegal every combination in restraint of trade. (d) declared none of the above.