One way of setting up Supply and Demand curves that can yield good understandingand insight into how a market operates and reaches equilibrium is to show individualand market demand on a single table.The table below shows demand schedules for 6 people (Ying, Som, Fon, Nam, Gob, andYam) and a market demand schedule for all 6 people combined (Market Demand).At a price of $3, Nam demands how many units?Quantity DemandedFonNamMarketDemandPriceYingSomGobYam1011242714491211338.52641372931710536210121910401171110748OO o O

At a price of $3, Nam demands how many units? Quantity Demanded Fon Nam Market Demand Price 10 9 Ying Som Gob Yam 1 1 8 7 2 2 4 1 4 4 9 1 3 4 21 26 5 1 1 8 3 7 8 29 1 7 10 10 5 36 40 2 1 10 9 1 1 7 12 11 10 7 48 23 의

At a price of $3, Nam demands how many units? Quantity Demanded Fon Nam Market Demand Price 10 9 Ying Som Gob Yam 1 1 8 7 2 2 4 1 4 4 9 1 3 4 21 26 5 1 1 8 3 7 8 29 1 7 10 10 5 36 40 2 1 10 9 1 1 7 12 11 10 7 48 23 의

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

One way of setting up Supply and Demand curves that can yield good understanding
and insight into how a market operates and reaches equilibrium is to show individual
and market demand on a single table.
The table below shows demand schedules for 6 people (Ying, Som, Fon, Nam, Gob, and
Yam) and a market demand schedule for all 6 people combined (Market Demand).
At a price of $3, Nam demands how many units?
Quantity Demanded
Fon
Nam
Market
Demand
Price
Ying
Som
Gob
Yam
10
1
1
2
4
2
7
1
4
4
9
1
21
1
3
3
8.
5
26
4
1
3
7
29
3
1
7
10
5
36
2
10
12
1
9
10
40
1
1
7
11
10
7
48
OO o O

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