Math Problem Statement

Suppose that Alex and Becky represent the only two consumers of jeans in some hypothetical market. The following table presents their annual demand schedules for jeans: Price Alex’s Quantity Demanded Becky’s Quantity Demanded (Dollars per pair) (Pairs) (Pairs) 10 32 64 20 20 48 30 12 32 40 4 24 50 0 16 On the following graph, plot Alex’s demand for jeans using the green points (triangle symbol). Next, plot Becky’s demand for jeans using the purple points (diamond symbol). Finally, plot the market demand for jeans using the blue points (circle symbol). Note: Line segments will automatically connect the points. Remember to plot from left to right.

Solution

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Math Problem Analysis

Mathematical Concepts

Demand Schedule
Market Demand
Graph Plotting
Summation

Formulas

Market Demand = Sum of Individual Demands at each Price

Theorems

Law of Demand

Suitable Grade Level

Grades 9-12