Mario and Chris are the only two consumers in a particular market for train tickets. The following table displays the relationship between the price of bus tickets for each consumer and quantity of train tickets demanded per week when the price of train tickets is $4.00 each. $2.00 $3.00 $4.00 $5.00 Price of bus tickets 6. Mario's demand for train tickets 8 4 2 Chris' demand for train tickets 1 3 a) Suppose the price of bus tickots is $4 The markot

Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
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Mario and Chris are the only two consumers in a
particular market for train tickets. The following table
displays the relationship between the price of bus
tickets for each consumer and quantity of train
tickets demanded per week when the price of train
tickets is $4.00 each.
$2.00 $3.00 $4.00 $5.00
Price of bus
tickets
Mario's demand
for train tickets
8
6.
4
2
Chris' demand
for train tickets
1
2
3
a) Suppose the price of bus tickets is $4. The market
demand of train tickets per day is
Transcribed Image Text:Mario and Chris are the only two consumers in a particular market for train tickets. The following table displays the relationship between the price of bus tickets for each consumer and quantity of train tickets demanded per week when the price of train tickets is $4.00 each. $2.00 $3.00 $4.00 $5.00 Price of bus tickets Mario's demand for train tickets 8 6. 4 2 Chris' demand for train tickets 1 2 3 a) Suppose the price of bus tickets is $4. The market demand of train tickets per day is
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