Price Total Individual Quantitles Demanded per Quantity Candy Тех Dex Rex Demanded $8 3 7 8 2 12 6 3 4 19 17 6 27 4 23 5 8. I| || || || || 6 00 + + + + + LO + + + + +
Suppose there are three buyers of candy in a market: Tex, Dex, and Rex. The market
a. Fill in the table for the missing values.
b. Which buyer demands the least at a
c. Which buyer’s quantity demanded increases the most when the price is lowered from $7 to $6?
d. Which direction would the market demand curve shift if Tex withdrew from the market? What if Dex doubled his purchases at each possible price?
e. Suppose that at a price of $6, the total quantity demanded increases from 19 to 38. Is this a “change in the quantity demanded” or a “change in demand”?
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- Which direction would the market
demand curve shift if Tex withdrew from the market? What if Dex doubled his purchases at each possibleprice ? - Suppose that at a price of $6, the total quantity demanded increases from 19 to 38. Is this a “change in the quantity demanded” or a “change in demand”?
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