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2. A society of four individuals, A, B, C, and D, each characterized by his demand for automobiles, as given in the table. Assume that

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2. A society of four individuals, A, B, C, and D, each characterized by his demand for automobiles, as given in the table. Assume that all automobiles are identical. The demand schedules for each person and for the group conform to the law of demand. Car-ownership demands of A, B, C, and D Price ($) Quantity of Automobiles A B C D 1,000 Total 2 0 1 900 2 0 800 1 2 700 600 500 400 N 300 200 W W W W W N N 2 100 NN 4 A 2 4

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