Question

Suppose that Brian and Crystal are the only consumers of scented candles in a particular market....

Suppose that Brian and Crystal are the only consumers of scented candles in a particular market. The following table shows their annual demand schedules:

PriceBrian's Quantity DemandedCrystal's Quantity Demanded
(Dollars per candle)(Candles)(Candles)
21624
41016
6612
828
1004

On the following graph, plot Brian's demand for scented candles using the green points (triangle symbol). Next, plot Crystal'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).

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Answer #1

Note : The market demand curve is drawn by adding the quantity demanded of both Brian and Crystal at the recpective prices.

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