The following table summarizes demand data for a market. At each price, the quantity demanded by Jones, Smith, and all other buyers (besides Jones and Smith) is shown. For each price in the table, enter the number of units demanded by all buyers (Smith, Jones, and all other buyers) to complete the market demand schedule. Quantity Demanded Price Jones Smith Other Buyers $25 12 14 70 $24 15 16 95 $23 18 18 120 $22 21 20 145 $21 24 22 170 $20 27 24 195
The following table summarizes demand data for a market. At each price, the quantity demanded by Jones, Smith, and all other buyers (besides Jones and Smith) is shown. For each price in the table, enter the number of units demanded by all buyers (Smith, Jones, and all other buyers) to complete the market demand schedule. Quantity Demanded Price Jones Smith Other Buyers $25 12 14 70 $24 15 16 95 $23 18 18 120 $22 21 20 145 $21 24 22 170 $20 27 24 195
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 1SCQ: Review Figure 3.4. Suppose the price of gasoline is 1.60 per gallon. Is the quantity demanded higher...
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2. Working with Numbers and Graphs Q2
The following table summarizes demand data for a market. At each price , the quantity demanded by Jones, Smith, and all other buyers (besides Jones and Smith) is shown.
For each price in the table, enter the number of units demanded by all buyers (Smith, Jones, and all other buyers) to complete the market demand schedule.
Quantity Demanded
|
||||
---|---|---|---|---|
Price | Jones | Smith | Other Buyers | |
$25 | 12 | 14 | 70 |
|
$24 | 15 | 16 | 95 |
|
$23 | 18 | 18 | 120 |
|
$22 | 21 | 20 | 145 |
|
$21 | 24 | 22 | 170 |
|
$20 | 27 | 24 | 195 |
|
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