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lollie614 lollie614
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A month ago
The following table shows the demand for notebooks of four consumers.

Price
($ per unit)
Consumer 1
Demand (units)
Consumer 2 Demand (units)Consumer 3 Demand (units)Consumer 4 Demand (units)
886910
616101518
420132124
122172427

Define the term "market demand." If these four consumers constitute the entire market, calculate the market demand for notebooks at $1, $4, $6, and $8, respectively.
Textbook 

Macroeconomics


Edition: 3rd
Authors:
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avi420avi420
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A month ago
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More solutions for this book are available here
The term "market demand" refers to the sum of the individual demands of all potential buyers in a market.
Market demand at $1 = 22 + 17 + 24 + 27 = 90 units
Market demand at $4 = 20 + 13 + 21 + 24 = 78 units
Market demand at $6 = 16 + 10 + 15 + 18 = 59 units
Market demand at $8 = 8 + 6 + 9 + 10 = 33 units

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