Kate buys 3 chocolate bans) per week at a price of $1 25, 4 at a price of $1 00, and 5 at a price of $0.75 Her friend Carlo buys 6 chocolate bans] at a price of $1.25. 8 at a price of $1.00. and 10 at a price of $0 T5. 3. If these two friends are the only consumers in the market for chocolate bars, the market demand curve includes the following three points: 0 (5. $2.50), is, 52.00;, and [10. $1.50) 0 (3, $2 50). (4, $2.00), and (5. $1.50) 0 (9, $2 50). (12. $2.00), and [15, $1.50) 0 (4.5. 51.25). (5, $1.00), and (7.55075) 0 (9, $1.25), (12, $1.00). and {15. $0.75} b. This market demand curve satises v the law of demand. since price and quantity demanded move in the same v direction. c. Draw a graph showing Kate's and Carlo's demand curves DK and DC and the market demand curve DmOr Plot 3 lems for each ofthe demand curves. DK. Dc. and Dmu to complete part (c) and plot 3 points to draw the new demand curve Dm1 to complete pan (d) below. Plot a total of12 points In the graph. Market Demand for Chocolate Bars 2.5 Tools / / E 20 DK DE 3 1 5 / / g D D E niD ml 3 1.0 3 : .2 0- 0.5 d. If Kate and Carlo both double their purchases of chocolate bars per week at every price, the effect on the market demand curve will be to shift the curve to the left v, meaning there is a(n) |decrease in demand. Draw this new market demand curve Dm1 on your graph. Plot 3 points to draw Dmi In the graph above