In: Economics
Suppose that Van and Amy are the only consumers of pizza slices in a particular market. The following table shows their annual demand schedules:
Price |
Van’s Quantity Demanded |
Amy’s Quantity Demanded |
---|---|---|
(Dollars per slice) |
(Slices) |
(Slices) |
1 | 40 | 80 |
2 | 25 | 60 |
3 | 15 | 40 |
4 | 5 | 20 |
5 | 0 | 10 |
On the following graph, plot Van’s demand for pizza slices using the green points (triangle symbol). Next, plot Amy’s demand for pizza slices using the purple points (diamond symbol). Finally, plot the market demand for pizza slices using the blue points (circle symbol).
Note: Line segments will automatically connect the points. Remember to plot from left to right.
Price | Van’s QD | Amy’s QD | Market demand |
1 | 40 | 80 | 120 |
2 | 25 | 60 | 85 |
3 | 15 | 40 | 55 |
4 | 5 | 20 | 25 |
5 | 0 | 10 | 10 |
Market demand = Van's+Amy's demand