Question

Suppose that Eric and Ginny are the only consumers of pizza slices in a particular market. The following table shows their annual demand schedules:

Price	Eric’s Quantity Demanded	Ginny’s Quantity Demanded
(Dollars per slice)	(Slices)	(Slices)
1	40	60
2	30	40
3	20	30
4	10	20
5	0	10

On the following graph, plot Eric’s demand for pizza slices using the green points (triangle symbol). Next, plot Ginny’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). Line segments will automatically connect the points. Remember to plot from left to right.

Answer 1

Market demand schedule is the aggregate of individual demand schedules. In this case, draw the demand schdules as downward sloping straight lines from left to right by taking price on the vertical axis and number of slices on the horizontal axis. In this way, the graph below plots the individual's and market demand curves

Eric's dem Ginny's de Market demand 60 40 30 20 10 Price 40 30 20 10 0 100 70 50 30 10 Demand curves 4 2 3 0 0 20 40 60 80 100 120 Slices of Pizza