Suppose the market for ice cream cones is made up of three consumers: Josh, Curt, and Tim. Complete the information in the following table to construct the market demand curve for ice cream cones. Josh Curt Tim Market PRICE QUANTITY DEMANDED (CONES PER WEEK) QUANTITY DEMANDED (CONES PER WEEK) QUANTITY DEMANDED (CONES PER WEEK) QUANTITY DEMANDED (CONES PER WEEK) $1.75 3 0 0 nothing 1.50 6 2 1 nothing 1.25 8 3 2 nothing 1.00 9 5 3 nothing 0.75 11 6 4 nothing Market Demand: Ice Cream Cones 036912151821240.000.250.500.751.001.251.501.752.00Quantity (cones per week)Price (dollars per cone) interactive graph
Suppose the market for ice cream cones is made up of three consumers: Josh, Curt, and Tim. Complete the information in the following table to construct the market demand curve for ice cream cones. Josh Curt Tim Market PRICE QUANTITY DEMANDED (CONES PER WEEK) QUANTITY DEMANDED (CONES PER WEEK) QUANTITY DEMANDED (CONES PER WEEK) QUANTITY DEMANDED (CONES PER WEEK) $1.75 3 0 0 nothing 1.50 6 2 1 nothing 1.25 8 3 2 nothing 1.00 9 5 3 nothing 0.75 11 6 4 nothing Market Demand: Ice Cream Cones 036912151821240.000.250.500.751.001.251.501.752.00Quantity (cones per week)Price (dollars per cone) interactive graph
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 7P
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Question
Suppose the market for ice cream cones is made up of three consumers: Josh, Curt, and Tim. Complete the information in the following table to construct the market demand curve for ice cream cones.
|
Josh
|
Curt
|
Tim
|
Market
|
PRICE
|
QUANTITY DEMANDED (CONES PER WEEK)
|
QUANTITY DEMANDED (CONES PER WEEK)
|
QUANTITY DEMANDED (CONES PER WEEK)
|
QUANTITY DEMANDED (CONES PER WEEK)
|
$1.75
|
3
|
0
|
0
|
nothing
|
1.50
|
6
|
2
|
1
|
nothing
|
1.25
|
8
|
3
|
2
|
nothing
|
1.00
|
9
|
5
|
3
|
nothing
|
0.75
|
11
|
6
|
4
|
nothing
|
Market Demand: Ice Cream Cones
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