Question

3. Individual and market demand Suppose that Hubert and Kate are the only consumers of scented candies in a particular market. The following table shows their annual demand schedules: Price (Dollars per candle) Hubert's Quantity Demanded (Candles) Kate's Quantity Demanded (Candles) N On the following graph, plot Hubert's demand for scented candles using the green points (triangle symbol). Next, plot Kate's demand for scented candles using the purple points (diamond symbol). Finally, plot the market demand for scented candles using the blue points (circle symbol). Note: Line segments will automatically connect the points. Remember to plot from left to right.

Answer 1

Since) Market deperd = Sum of ind, Vidual derraad - Huber't to Kate's desperd dessa ord Hubegitd Kate's akt. darrerd d 24 16 32+16= 48 24+4228 24 2 lo, O p($) Hubert's derrond 4 8 12 16 20

PLS) Kate's depard 9 16 24 32 P($) 1918 demand of 16 24 32 40 48 56 ( The points are not accurately plotted as done by penord paper