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1. In the year 2005, in Anytown, suppose that one person is willing to pay $1,000 for relief from hay fever, another two are willing to pay $350; about five more are willing to pay S50; one is willing to pay $40; one is willing to pay $35; the rest of the town (another 75 people) are willing to pay $I Draw the demand curve for hay fever relief in Anytown. (1 point) a. What is the potential total benefit from relief of hay fever if it is provided to everyone who asks? To everyone willing to pay $35 or more? (2 points) b.
If the price of hay fever medication is $35, what is the quantity demanded? (1 point) c.
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