Suppose that Nick and Rosa represent the only two consumers of jeans in some hypothetical market. The following table presents their annual demand schedules for jeans: Price (Dollars per pair) Nick's Quantity Demanded Rosa's Quantity Demanded (Pairs) (Pairs) 10 20 24 12 64 48 30 8 32 40 4 16 50 0 8 On the following graph, plot Nick's demand for jeans using the green points (triangle symbol). Next, plot Rosa's demand for jeans using the purple points (diamond symbol). Finally, plot the market demand for jeans using the blue points (circle symbol). Note: Line segments will automatically connect the points. Remember to plot from left to right. 60 60 50 40 10 30 PRICE (Dollars per pair) 20 20 10 10 0 0 16 32 48 64 QUANTITY (Pairs) 80 60 Nick's Demand Rosa's Demand 96 Market Demand
Suppose that Nick and Rosa represent the only two consumers of jeans in some hypothetical market. The following table presents their annual demand schedules for jeans: Price (Dollars per pair) Nick's Quantity Demanded Rosa's Quantity Demanded (Pairs) (Pairs) 10 20 24 12 64 48 30 8 32 40 4 16 50 0 8 On the following graph, plot Nick's demand for jeans using the green points (triangle symbol). Next, plot Rosa's demand for jeans using the purple points (diamond symbol). Finally, plot the market demand for jeans using the blue points (circle symbol). Note: Line segments will automatically connect the points. Remember to plot from left to right. 60 60 50 40 10 30 PRICE (Dollars per pair) 20 20 10 10 0 0 16 32 48 64 QUANTITY (Pairs) 80 60 Nick's Demand Rosa's Demand 96 Market Demand
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Suppose that Nick and Rosa represent the only two consumers of jeans in some hypothetical market. The following table presents their annual
demand schedules for jeans:
Price
(Dollars per pair)
Nick's Quantity Demanded Rosa's Quantity Demanded
(Pairs)
(Pairs)
10
20
24
12
64
48
30
8
32
40
4
16
50
0
8
On the following graph, plot Nick's demand for jeans using the green points (triangle symbol). Next, plot Rosa's demand for jeans using the purple
points (diamond symbol). Finally, plot the market demand for jeans using the blue points (circle symbol).
Note: Line segments will automatically connect the points. Remember to plot from left to right.
60
60
50
40
10
30
PRICE (Dollars per pair)
20
20
10
10
0
0
16
32
48
64
QUANTITY (Pairs)
80
60
Nick's Demand
Rosa's Demand
96
Market Demand
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