Suppose there are three buyers of candy in a market: Tex, Dex, and Rex. The market demand and the individual demands of Tex, Dex, and Rex are shown in the following table. a. Fill in the missing values (gray-shaded cells) in the table. Individual Quantities Demanded Price per Candy Total Quantity Demanded Tex Dex Rex 2$ 8 2 1 7 4 2 12 6 3 10 19 8 14 26 4 10 18 b. Which buyer demands the least at a price of $5? |(Click to select) ♥ The most at a price of $7?
Suppose there are three buyers of candy in a market: Tex, Dex, and Rex. The market demand and the individual demands of Tex, Dex, and Rex are shown in the following table. a. Fill in the missing values (gray-shaded cells) in the table. Individual Quantities Demanded Price per Candy Total Quantity Demanded Tex Dex Rex 2$ 8 2 1 7 4 2 12 6 3 10 19 8 14 26 4 10 18 b. Which buyer demands the least at a price of $5? |(Click to select) ♥ The most at a price of $7?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A, and B
![Suppose there are three buyers of candy in a market: Tex, Dex, and Rex. The market demand and the individual demands of Tex, Dex,
and Rex are shown in the following table.
a. Fill in the missing values (gray-shaded cells) in the table.
Individual Quantities Demanded
Price per
Candy
Total Quantity
Demanded
Теx
Dex
Rex
$
8
2
1
2
7
4
12
6
3
10
19
8
14
26
4
10
18
b. Which buyer demands the least at a price of $5?
(Click to select) ♥
The most at a price of $7?
|(Click to select) V
c. Which buyer's quantity demanded increases the most when the price decreases from $7 to $6?
(Click to select) ♥
d. Which direction would the market demand curve shift if Tex withdrew from the market?
|(Click to select) V
What if Dex doubled his purchases at each possible price?
|(Click to select) V
e. Suppose that at a price of $6, the total quantity demanded increases from 19 to 29. Is this a "change in the quantity demanded" or a
"change in demand"?
(Click to select)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3839d18f-8e59-4866-920a-870b25c7c501%2Fd3f9e617-fce3-4c0b-ab77-a876e3b3fcb0%2Fdfsx5jp_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose there are three buyers of candy in a market: Tex, Dex, and Rex. The market demand and the individual demands of Tex, Dex,
and Rex are shown in the following table.
a. Fill in the missing values (gray-shaded cells) in the table.
Individual Quantities Demanded
Price per
Candy
Total Quantity
Demanded
Теx
Dex
Rex
$
8
2
1
2
7
4
12
6
3
10
19
8
14
26
4
10
18
b. Which buyer demands the least at a price of $5?
(Click to select) ♥
The most at a price of $7?
|(Click to select) V
c. Which buyer's quantity demanded increases the most when the price decreases from $7 to $6?
(Click to select) ♥
d. Which direction would the market demand curve shift if Tex withdrew from the market?
|(Click to select) V
What if Dex doubled his purchases at each possible price?
|(Click to select) V
e. Suppose that at a price of $6, the total quantity demanded increases from 19 to 29. Is this a "change in the quantity demanded" or a
"change in demand"?
(Click to select)
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