Math Problem Statement
Suppose that Edison and Hilary represent the only two consumers of jeans in some hypothetical market. The following table presents their annual demand schedules for jeans:
Price
Edison’s Quantity Demanded
Hilary’s Quantity Demanded
(Dollars per pair)
(Pairs)
(Pairs)
10
32
56
20
24
40
30
16
24
40
8
12
50
0
4
On the following graph, plot Edison’s demand for jeans using the green points (triangle symbol). Next, plot Hilary’s demand for jeans using the purple points (diamond symbol). Finally, plot the market demand for jeans using the blue points (circle symbol).
Solution
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Math Problem Analysis
Mathematical Concepts
Demand curves
Market demand
Graphing
Formulas
Market Demand = Edison’s Demand + Hilary’s Demand
Theorems
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Suitable Grade Level
Grades 9-12