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Construct the market demand schedule

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Reference no: EM131207209

Assume that the market for cheeseburgers consists of only three individuals: Jerry, George, and Elaine. Here are their demand schedules:

Price

Jerry's Demand

Price

George's Demand

Price

Elaine's Demand

$0

5

$0

8

$0

2

$2

4

$2

7

$2

2

$4

4

$4

7

$4

1

$6

3

$6

6

$6

1

$8

2

$8

5

$8

0

$10

1

$10

4

$10

0

From the information in demand schedules, answer the following questions:

a. If the price of a cheeseburger were $2, how many cheeseburgers would be sold? 6.

b. If the price of a cheeseburger were $8, how many cheeseburgers would be sold?

c. Construct the market demand schedule for cheeseburgers

Reference no: EM131207209

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