Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I am struggling to understand how to sum the two graph together. can you simplify the answer in steps.. 1- ? 2- ? 3-? Fred

I am struggling to understand how to sum the two graph together.

can you simplify the answer in steps..

1- ?

2- ?

3-?

image text in transcribedimage text in transcribed
Fred and Frank are vacationing dog owners. Each owns two dogs which he would like to leave behind at the Pampered Pets Resort while he travels. The graphs below depict their individual demand curves for dog babysitting services. FRED'S DEMAND PRICE PER NIGHT PER DOG $40 530 $20 $10 2 3 QUANTITY OF DOGS FRANK'S DEMAND PRICE PER NIGHT PER DOG $40 $30 $20 $10 2 co. QUANTITY OF DOGS Which of the following graphs depicts the total demand for Pampered Pets Resort's services by Fred and Frank?PRICE PER NIGHT PER DOG $40 $30 $40 $10 PRICE PER NIGHT PER DOG $60 $50 $20 $30 $20 0- 3 5 QUANTITY OF DOGS $10 3 QUANTITY OF DOGS O Graph 1 O Graph 2 At a price of $20, all four dogs This graph is the vertical sum of the would be boarded at the two demand curves. To obtain an Pampered Pets Resort. This graph accurate combined demand curve, indicates that only three would. the two individual curves should be summed horizontally. PRICE PER NIGHT PER DOG $40 $40 $30 $20 PRICE PER NIGHT PER DOG $30 $20 $10 $10 2 3 5 6 QUANTITY OF DOGS 3 5 QUANTITY OF DOGS O Graph 3 O Graph 4 This graph indicates that there To obtain the total demand from the would be demand for 4.5 dogs to two customers, simply sum the two be babysat at a price of $10. 1/2 of demand curves horizontally. a dog would be an odd quantity to babysit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Crashed How A Decade Of Financial Crises Changed The World

Authors: Adam Tooze

1st Edition

0143110357, 9780143110354

More Books

Students also viewed these Economics questions

Question

=+b) Identify all the factor levels.

Answered: 1 week ago