Solution-Construct the market demand schedule

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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Construct the market demand schedule

Reference no: EM131207209

Reference no: EM131207209

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