uppose that Edison and Hilary are the only consumers of shoes in a particular market. The following table shows their annual demand schedu Price Edison's Quantity Demanded Hilary's Quantity Demanded (Dollars per pair) (Pairs) (Pairs) 10 32 64 20 24 48 30 16 32 40 8. 24 50 16
uppose that Edison and Hilary are the only consumers of shoes in a particular market. The following table shows their annual demand schedu Price Edison's Quantity Demanded Hilary's Quantity Demanded (Dollars per pair) (Pairs) (Pairs) 10 32 64 20 24 48 30 16 32 40 8. 24 50 16
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 11PA
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Transcribed Image Text:On the following graph, plot Edison's demand for shoes using the green points (triangle symbol). Next, plot Hilary's demand for shoes using the purple
points (diamond symbol). Finally, plot the market demand for shoes using the blue points (circle symbol).
60
50
Edison's Demand
40
Hilary's Demand
Market Demand
10
16
32
48
64
80
96
QUANTITY (Pairs)
RICE (Dollars per pair)
Transcribed Image Text:2. Individual and market demand
Suppose that Edison and Hilary are the only consumers of shoes in a particular market. The following table shows their annual demand schedules:
Price
Edison's Quantity Demanded Hilary's Quantity Demanded
(Dollars per pair)
(Pairs)
(Pairs)
10
32
64
20
24
48
30
16
32
40
24
50
16
On the following graph, plot Edison's demand for shoes using the green points (triangle symbol). Next, plot Hilary's demand for shoes using the purple
points (diamond symbol). Finally, plot the market demand for shoes using the blue points (circle symbol).
60
50
Edison's Demand
40
Hilary's Demand
30
2)
(ned sad sie
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