Question
The table shows the marginal value of beer for individual A. The values are measured in dollars. Suppose that the marginal values of beer for
The table shows the marginal value of beer for individual A. The values are measured in dollars. Suppose that the marginal values of beer for individual B are identical to those of individual A. Illustrate in a figure the individual market demands of individuals A and B. (The vertical axis is supposed to represent price or marginal value and the horizontal axis is supposed to denote quantity). Moreover, illustrate the inverse market demand that consists of both individuals demands A and B.
Quantity of BeerMarginal Value of Beer in $ for Individual A
110
28
36
44
52
60
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