Graph the individual and market demand curves

Reference no: EM131402348

1. State the law of demand. Why is price inversely related to quantity demanded?

2. You're given the following individual demand tables for comic books.

a. Determine the market demand table.

b. Graph the individual and market demand curves.

c. If the current market price is $4, what's total market demand? What happens to total market demand if price rises to $8?

d. Say that an advertising campaign increases demand by 50 percent. What will happen to the individual and market demand curves?

Reference no: EM131402348

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