Answered: Suppose that Jacques and Kyoko are the…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 23RQ: Name some factors that can cause a shift in line demand curve in markets for goods and services.

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3. Individual and market demand

Suppose that Jacques and Kyoko are the only consumers of pizza slices in a particular market. The following table shows their annual demand schedules:

Price	Jacques’s Quantity Demanded	Kyoko’s Quantity Demanded
(Dollars per slice)	(Slices)	(Slices)
1	40	80
2	25	60
3	15	40
4	5	30
5	0	20

On the following graph, plot Jacques’s demand for pizza slices using the green points (triangle symbol). Next, plot Kyoko’s demand for pizza slices using the purple points (diamond symbol). Finally, plot the market demand for pizza slices using the blue points (circle symbol).

Note: Line segments will automatically connect the points. Remember to plot from left to right.

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