Lets assume each person in Canada consumed an average of 74 L of soft drinks at an
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Let’s assume each person in Canada consumed an average of 74 L of soft drinks at an average price of $0.97 per litre. Assume that, at a price of $0.75 per litre, each individual consumer would demand 92 L of soft drinks. The Canadian population in 2016 was 36.3 million. From this information about the individual demand schedule, calculate the market demand schedule for soft drinks for the prices of $0.75 and $0.97 per litre.
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Related Book For
Macroeconomics
ISBN: 978-1319120054
3rd Canadian edition
Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson
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