On the following graph, plot Sam's demand for scented candles using the green points (triangle symbol). Next, plot Teresa's demand for scented candles using the purple points (diamond symbol). Finally, plot the market demand for scented candles using the blue points (circle symbol).

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
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Suppose that Sam and Teresa are the only consumers of scented candles in a particular market. The folloving table shows their annual demand
schedules:
Price
Sam's Quantity Demanded
Teresa's Quantity Demanded
(Dollars per candle)
(Candles)
(Candles)
2
16
32
10
24
6.
16
8
2
8.
10
4.
On the following graph, plot Sam's demand for scented candles using the green points (triangle symbol). Next, plot Teresa's demand for scented
candles using the purple points (diamond symbol). Finally, plot the market demand for scented candles using the blue points (circle symbol).
Note: Line segments will automatically connect the points. Remember to plot from left to right.
(?)
12
10
Sam's Demand
Teresa's Demand
Market Demand
24
32
48
QUANTITY (Candles)
Transcribed Image Text:Suppose that Sam and Teresa are the only consumers of scented candles in a particular market. The folloving table shows their annual demand schedules: Price Sam's Quantity Demanded Teresa's Quantity Demanded (Dollars per candle) (Candles) (Candles) 2 16 32 10 24 6. 16 8 2 8. 10 4. On the following graph, plot Sam's demand for scented candles using the green points (triangle symbol). Next, plot Teresa's demand for scented candles using the purple points (diamond symbol). Finally, plot the market demand for scented candles using the blue points (circle symbol). Note: Line segments will automatically connect the points. Remember to plot from left to right. (?) 12 10 Sam's Demand Teresa's Demand Market Demand 24 32 48 QUANTITY (Candles)
Expert Solution
Step 1

First we calculate the aggregate demand.

Price Sam's quantity demanded Teresa's quantity demanded Aggregate quantity demanded
2 16 32 16+32=48
4 10 24 10+24=34
6 6 16 6+16=22
8 2 8 2+8=10
10 0 4 0+4=4
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