Individual and market demand
3. Individual and market demand
Suppose that Dmitri and Frances are the only consumers of ice cream cones in a particular market. The following table shows their monthly demand schedules:
| Price | Dmitri’s Quantity Demanded | Frances’s Quantity Demanded |
|---|---|---|
| (Dollars per cone) | (Cones) | (Cones) |
| 1 | 8 | 16 |
| 2 | 5 | 12 |
| 3 | 3 | 8 |
| 4 | 1 | 4 |
| 5 | 0 | 2 |
On the following graph, plot Dmitri’s demand for ice cream cones using the green points (triangle symbol). Next, plot Frances’s demand for ice cream cones using the purple points (diamond symbol). Finally, plot the market demand for ice cream cones using the blue points (circle symbol).
Note: Line segments will automatically connect the points. Remember to plot from left to right.
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