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