Suppose there are three buyers of candy in a market: Tex, Dex, and Rex. The market demand

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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 below. LO1

a. Fill in the taboler fthe missinga luves.

b. Which buyer demands the least at a prfi c$e5 o? hTe most at a price of $7?

c. Which bueyr’s quantity demanded ienacsres the most when the price is lowered from $7 to $6?

d. Which dier ction would the marekt demand curev shift if Tex withdrew from the market? What if Dex doubled his purchases at each possible price?

e. Suppose that at a pricf e$ 6o, the total quantity demanded increases from 19 to

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Essentials Of Economics

ISBN: 9780077502140

3rd Edition

Authors: Stanley Brue, Campbell McConnell, Sean Flynn

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