Suppose that Zimal and Zawaiyar are the only consumers of perfumes in a particular market. The following table shows their annual demand schedules: Price (Per Bottle of Perfume) Zimal’s Quantity Demanded Zawaiyar’s Quantity Demanded Market Supply 100 600 650 250 200 500 550 450 300 400 450 850 400 300 350 1050 500 200 250 1250 600 100 150 1450 Given the following information construct market demand curve and find the market equilibrium.
Suppose that Zimal and Zawaiyar are the only consumers of perfumes in a particular market. The following table shows their annual demand schedules: Price (Per Bottle of Perfume) Zimal’s Quantity Demanded Zawaiyar’s Quantity Demanded Market Supply 100 600 650 250 200 500 550 450 300 400 450 850 400 300 350 1050 500 200 250 1250 600 100 150 1450 Given the following information construct market demand curve and find the market equilibrium.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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- Suppose that Zimal and Zawaiyar are the only consumers of perfumes in a particular market. The following table shows their annual
demand schedules:
|
Zimal’s Quantity Demanded |
Zawaiyar’s Quantity Demanded |
Market Supply |
100 |
600 |
650 |
250 |
200 |
500 |
550 |
450 |
300 |
400 |
450 |
850 |
400 |
300 |
350 |
1050 |
500 |
200 |
250 |
1250 |
600 |
100 |
150 |
1450 |
Given the following information construct market demand curve and find the
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