Macroeconomics maths

SUPPLY AND DEMAND See the below demand schedule showing the willingness of Sandra and Dave to buy ice cream cones at different price levels: Price of one ice cream cone # of ice cream cones Sandra # of ice cream cones Dave would buy at this price would buy at this price $1.00 7.75 4.75 $1.50 7.625 4.625 $3.00 7.25 4.25 $4.00 1. Who likes ice cream more, Sandra or Dave and why? 2. Graph Sandra's demand curve. 3. Graph Dave's demand curve. 4. Assume that Dave and Sandra are the only people who buy ice cream cones. Input below the market demand schedule: Price of one ice cream cone Market Demand (Quantity (PP) demanded, QQDD) $1.00 $1.50 $3.00 $4.00 5. Graph the market demand curve. 6. Find the slope of the market demand where: cchaaaaaaSS tiaa SSppuicess SSSSSSSSSS (mm): cchaaaaaaSS itaa qqqqaaaaqqiiqqqq 7. Find the intercept of the market demand by plugging in points to the below: QQDD = qqqqaaaaqqiiqqqq iiaaqqSSppccSSSSqq -sSSSSSSSSS * PP 8. Write the equation for market demand using the format from 7. 9. Assume Sandra got a raise, and now has more money to spend. a. Input data in the table below that would be consistent with this ice cream being an inferior good. Price of one ice cream cone # of ice cream cones Sandra would buy at this price $1.00 $1.50 $3.00 $4.00 b. Create a graph showing the shift in Sandra's demand curve based on your completed chart from question 9a. c. What would be the new market demand curve based on your completed chart from question 9a? Price of one ice cream cone Market Demand (Quantity (PP) demanded, QQDD) $1.00 $1.50 $3.00 $4.00 d. Create a graph showing the shift in market demand curve based on your completed chart from question 9d. 10. Resetting from question 9- assume that Sandra got a raise. a. Input data in the table below that would be consistent with this ice cream being an normal good. Price of one ice cream cone # of ice cream cones Sandra would buy at this price $1.00 $1.50 $3.00 $4.00 b. Create a graph showing the shift in Sandra's demand curve based on your completed chart from question 10a. c. What would be the new market demand curve based on your completed chart from question 10a