Keith McPherson earned $20,000 last year as a carpenter. He paid $6,000 for food, rent, medical expenses, and other "necessities." There was little construction work in February, so he took a trip to the Caribbean and spent $4,000.
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There are three consumers in the market for playing cards: Don, John, and Ron. At a price of $2 per pack, the quantities demanded by each are 3 packs, 2 packs, and 1 pack, respectively. At a price of $1.
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