1. Below are several individual's demand functions for "Wrangler" jeans (all colors and styles are available).

Price	Trent	Teresa	Bill Gates	Market Demand
$50/pair	4	8	2
$20/pair	8	10	0

a. Compute the market demand at each price and insert the above.

b Calculate Trent's elasticity of demand for Wranglers and insert here ____________________. Show work for partial credit.

c. Whose demand is most inelastic? ______________________________

d. How do tastes and preferences affect Bill Gates's demand for Wranglers? Elaborate, please

question 2

The following is a demand curve for eggs

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90 90 80 70 60 Price 50 (cents) 40 30 20 10 1 2 3 4 567 Quantity (dozens)