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2. Individual and market demand Suppose that Sean and Yvette are the only consumers of scented candles in a particular market. The following table shows their annual demand schedules: Price ($ per candle) 2 4 6 8 00 10 Sean's Quantity Demanded (Number of Candles) 16 10 6 NO 2 0 Yvette's Quantity Demanded (Number of Candles) 24 16 12 8 4

2. Individual and market demand Suppose that Sean and Yvette are the only consumers of scented candles in a particular market. The following table shows their annual demand schedules: Price ($ per candle) 2 4 6 8 00 10 Sean's Quantity Demanded (Number of Candles) 16 10 6 NO 2 0 Yvette's Quantity Demanded (Number of Candles) 24 16 12 8 4

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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2. Individual and market demand Suppose that Sean and Yvette are the only consumers of scented candles in a particular market. The following table shows their annual demand schedules: Price ($ per candle) 2 4 6 8 10 Sean's Quantity Demanded Yvette's Quantity Demanded (Number of Candles) (Number of Candles) 16 24 10 16 6 12 2 0 8 4
Transcribed Image Text:2. Individual and market demand Suppose that Sean and Yvette are the only consumers of scented candles in a particular market. The following table shows their annual demand schedules: Price ($ per candle) 2 4 6 8 10 Sean's Quantity Demanded Yvette's Quantity Demanded (Number of Candles) (Number of Candles) 16 24 10 16 6 12 2 0 8 4
On the following graph, plot Sean's demand for scented candles using the green points (triangle symbol). Next, plot Yvette's demand for scented candles using the purple points (diamond symbol). Finally, plot the market demand for scented candles using the blue points (circle symbol). (?) PRICE ($ per candle) 12 10 0 8 16 24 32 QUANTITY (Number of Candles) 40 48 Sean's Demand Yvette's Demand O Market Demand
Transcribed Image Text:On the following graph, plot Sean's demand for scented candles using the green points (triangle symbol). Next, plot Yvette's demand for scented candles using the purple points (diamond symbol). Finally, plot the market demand for scented candles using the blue points (circle symbol). (?) PRICE ($ per candle) 12 10 0 8 16 24 32 QUANTITY (Number of Candles) 40 48 Sean's Demand Yvette's Demand O Market Demand
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