Suppose there are three buyers of candy in a market: Tex, Dex, and Rex. The market demand and the individual demands of Tex, Dex, and Rex are shown in the following table. a. Fill in the missing values (gray-shaded cells) in the table. Individual Quantities Demanded Price per Candy Total Quantity Demanded Теx Dex Rex 8. 2 7 4 3 13 10 20 8 14 27 10 18 b. Which buyer demands the least at a price of $5? |(Click to select) The most at a price of $7? |(Click to select) c. Which buyer's quantity demanded increases the most when the price decreases from $7 to $6? (Click to select) 2. 2. 4. %24

Brief Principles of Macroeconomics (MindTap Course List)
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Chapter4: The Market Forces Of Supply And Demand
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Suppose there are three buyers of candy in a market: Tex, Dex, and Rex. The market demand and the individual demands of Tex, Dex,
and Rex are shown in the following table.
a. Fill in the missing values (gray-shaded cells) in the table.
Individual Quantities Demanded
Total Quantity
Price per
Candy
Demanded
Tex
Dex
Rex
$
8
2
2
7
4
3
13
6
4
10
20
8
14
27
4
10
6
18
b. Which buyer demands the least at a price of $5?
|(Click to select) V
The most at a price of $7?
|(Click to select) v
c. Which buyer's quantity demanded increases the most when the price decreases from $7 to $6?
(Click to select) v
d. Which direction would the market demand curve shift if Tex withdrew from the market?
|(Click to select) V
What if Dex doubled his purchases at each possible price?
|(Click to select) v
e. Suppose that at a price of $6, the total quantity demanded increases from 20 to 30. Is this a "change in the quantity demanded" or a
"change in demand"?
(Click to select)
Transcribed Image Text:Suppose there are three buyers of candy in a market: Tex, Dex, and Rex. The market demand and the individual demands of Tex, Dex, and Rex are shown in the following table. a. Fill in the missing values (gray-shaded cells) in the table. Individual Quantities Demanded Total Quantity Price per Candy Demanded Tex Dex Rex $ 8 2 2 7 4 3 13 6 4 10 20 8 14 27 4 10 6 18 b. Which buyer demands the least at a price of $5? |(Click to select) V The most at a price of $7? |(Click to select) v c. Which buyer's quantity demanded increases the most when the price decreases from $7 to $6? (Click to select) v d. Which direction would the market demand curve shift if Tex withdrew from the market? |(Click to select) V What if Dex doubled his purchases at each possible price? |(Click to select) v e. Suppose that at a price of $6, the total quantity demanded increases from 20 to 30. Is this a "change in the quantity demanded" or a "change in demand"? (Click to select)
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