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3. Individual and market demand Suppose that Vakov and Ana are the only consumers of pizza slices in a particular market. The following table shows their weekly demand schedules: Price Yakovs Quantity Demanded Anas Quantity Demanded (Dollars per slice) (Slices) (Slices) 16 12 On the following graph, plot Yakovs demand for pizza slices using the green points (triangle symbol). Next, plot Anas 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. Yakovs Demand Anas Demand Market Demand 16 20 24 QUANTITY (Slices)

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Yakovs Demand Anas Demand Market Demand 12 16 20 24 QUANTITY (Slices)

Yakovs Quantity Demanded Anas Quantity DemandedMarket demand ay+ Qa (Slices) 16 12 Price (Dollars per slice) (Slices) 8 16

Market demand is the sum of individual quantity demanded.

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