Suppose that Sean and Yvette are the only consumers of ice cream cones in a particular market. The following table shows their monthly demand schedules: Price Sean’s Quantity Demanded Yvette’s Quantity Demanded (Dollars per cone) (Cones) (Cones) 1 8 16 2 6 12 3 4 8 4 2 6 5 0 4 On the following graph, plot Sean’s demand for ice cream cones using the green points (triangle symbol). Next, plot Yvette’s demand for ice cream cones using the purple points (diamond symbol). Finally, plot the market demand for ice cream cones using the blue points (circle symbol).
Suppose that Sean and Yvette are the only consumers of ice cream cones in a particular market. The following table shows their monthly demand schedules: Price Sean’s Quantity Demanded Yvette’s Quantity Demanded (Dollars per cone) (Cones) (Cones) 1 8 16 2 6 12 3 4 8 4 2 6 5 0 4 On the following graph, plot Sean’s demand for ice cream cones using the green points (triangle symbol). Next, plot Yvette’s demand for ice cream cones using the purple points (diamond symbol). Finally, plot the market demand for ice cream cones using the blue points (circle symbol).
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Individual and market demand
Suppose that Sean and Yvette are the only consumers of ice cream cones in a particular market. The following table shows their monthly demand schedules:
|
|
Sean’s Quantity Demanded
|
Yvette’s Quantity Demanded
|
|---|---|---|
|
(Dollars per cone)
|
(Cones)
|
(Cones)
|
| 1 | 8 | 16 |
| 2 | 6 | 12 |
| 3 | 4 | 8 |
| 4 | 2 | 6 |
| 5 | 0 | 4 |
On the following graph, plot Sean’s demand for ice cream cones using the green points (triangle symbol). Next, plot Yvette’s demand for ice cream cones using the purple points (diamond symbol). Finally, plot the market demand for ice cream cones using the blue points (circle symbol).
Note: Line segments will automatically connect the points. Remember to plot from left to right.
Sean’s DemandYvette’s DemandMarket Demand048121620246543210PRICE (Dollars per cone)QUANTITY (Cones)
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