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8 6 4 2 Sam 6 4 2 Diana Jorge 50 75 100 125 150 200 6 4 2 Lucas 25 50 75 2
8 6 4 2 Sam 6 4 2 Diana Jorge 50 75 100 125 150 200 6 4 2 Lucas 25 50 75 2 David 300 Mary 200 400 24. Use these individual demand lines above to calculate Market Demand: Price Sam's Jorge's Demand Demand Diana's David's Lucas' Demand Demand Mary's Demand Demand Market Demand 2 4 6 25. Draw the following demand line and label it Do Q=8-2P 26. Start with Demand 0: Q = 8 - 2P. Consumers incomes rise and as a result consumers purchase 20 more units at all prices. a. Write the equation for this new Demand line. b. Draw and label this new demand line D. 27. Start with Demand 0: Q = 8 - 2P. Consumers incomes rise and as a result consumers purchase 20% more units at all prices. a. Write the equation for this new Demand line. b. Draw and label this new demand line D. 28. Draw the following demand line and label it Do Q = 40-5P 29. Start with Demand 0: Q = 40 - 5P. The price of a substitute good drops and as a result consumers purchase 20 fewer units at all prices. a. Write the equation for this new Demand line. b. Draw and label this new demand line D. 30. Start with Demand 0: Q = 40 - 5P. The price of a substitute good drops and as a result consumers purchase 20% fewer units at all prices. a. Write the equation for this new Demand line. b. Draw and label this new demand line D.
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