On the following graph, plot Edison's demand for shoes using the green points (triangle symbol). Next, plot Hilary's demand for shoes using the purplepoints (diamond symbol). Finally, plot the market demand for shoes using the blue points (circle symbol).6050Edison's Demand40Hilary's DemandMarket Demand10163248648096QUANTITY (Pairs)RICE (Dollars per pair) 2. Individual and market demandSuppose that Edison and Hilary are the only consumers of shoes in a particular market. The following table shows their annual demand schedules:PriceEdison's Quantity Demanded Hilary's Quantity Demanded(Dollars per pair)(Pairs)(Pairs)10326420244830163240245016On the following graph, plot Edison's demand for shoes using the green points (triangle symbol). Next, plot Hilary's demand for shoes using the purplepoints (diamond symbol). Finally, plot the market demand for shoes using the blue points (circle symbol).6050Edison's Demand40Hilary's Demand302)(ned sad sie

As per the law of demand, the price has an inverse relationship with the quantity demanded.

Answered: uppose that Edison and Hilary are the…

ENGR.ECONOMIC ANALYSIS

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Author:NEWNAN

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Chapter1: Making Economics Decisions

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uppose that Edison and Hilary are the only consumers of shoes in a particular market. The following table shows their annual demand schedu Price Edison's Quantity Demanded Hilary's Quantity Demanded (Dollars per pair) (Pairs) (Pairs) 10 32 64 20 24 48 30 16 32 40 8. 24 50 16