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3. Individual and market demand Suppose that Bob and Cho are the only consumers of shoes in a particular market. The following table shows their annual demand schedules Price (Dollars per pair) 10 20 30 Bobs Quantity Demanded Chos Quantity Demanded Pairs) 32 40 12 24. On the following graph, plot Bobs demand for shoes using the green points (oriangle symbol). Next, plot Chos demand for shoes using the purple points (dlamond symbol). Finally, plot the market demand for shoes using the blue points (aircle symbol, Line segments will automaticlily connect the points. Remember to plot from left to right. 60 T Bobs Demand 50 C 40 Chos Demand
40 12 50 On the following graph, plot Bobs demand for shoes using the green points (trilangle symbol), Next, plot Chos demand points (dlamond symbol), Finally, plot the market demand for shoes using the blue points (ardle symbol), Line segments will lutomatical connect the points. Remember to plot from left to right. 80 50 40 Chos 30+ 20 480 96 16 32
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Answer #1

Answer:

Total market demand = Bob's demand +cho's demand

Price Bob's demand Cho's demand Total Market demand
10 32 56 88
20 20 40 60
30 12 24 36
40 4 12 16
50 0 4 4

50 40 Price 30 Market Demand Cho Demand 20 Bob Deman 10 Quantity

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