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The following table shows the demand schedules of three consumers

Question : The following table shows the demand schedules of three consumers : 5525

The following table shows the demand schedules of three consumers of wine. Assume that these three buyers constitute the entire market.

Refer to the table above. What is the market demand for wine when the price is $3?

Price

($/Unit)

Consumer 1 Demand

Consumer 2 Demand

Consumer 3 Demand

$4

5

10

17

$3

10

20

20

$2

16

26

23

$1

20

31

25

 

 

Solution
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Economics 1 Year Ago 122 Views
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