Question
Suppose that Antonio and Caroline are the only consumers of scented candles in a particular market. The following table shows their annual demand schedules: Price
Suppose that Antonio and Caroline are the only consumers of scented candles in a particular market. The following table shows their annual demand schedules:
Price | Antonio's Quantity Demanded | Caroline's Quantity Demanded |
---|---|---|
(Dollars per candle) | (Candles) | (Candles) |
2 | 16 | 32 |
4 | 10 | 24 |
6 | 6 | 16 |
8 | 2 | 12 |
10 | 0 | 8 |
On the following graph, plot Antonio's demand for scented candles using the green points (triangle symbol). Next, plot Caroline's demand for scented candles using the purple points (diamond symbol). Finally, plot the market demand for scented candles using the blue points (circle symbol).
Note: Line segments will automatically connect the points. Remember to plot from left to right.
Antonio's DemandCaroline's DemandMarket Demand081624324048121086420PRICE (Dollars per candle)QUANTITY (Candles)
10 Antonio's Demand Caroline's Demand PRICE (Dollars per candle) Market Demand QUANTITY (Candles)Step by Step Solution
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