3. (6 points) Social supply and demand a. (2 points) Does the community demand curve slope down? Even with diminishing marginal utility for the individual, the community demand curve may not be downward sloping. People may conclude that Beyonce's duck is good because others are eating in her restaurant (information). People may enjoy eating in the restaurant only if other people are there (network effects). People may value her restaurant more because it is expensive (status effects). 1'. Draw a demand curve for her restaurant under assumptions of information, network effects, status effects. Do you sll have a downward sloping demand curve?I Do you necessarily have an equilibrium price and quantity where demand equals marginal cost