Refer to the table that presents Mike and Janet's demand for apples by the bushel. If they are the only two in the market, which of the following represents a point on the market demand curve? $\begin{array} { | c | c | c | }
\hline \text { Price per pedk } & \text { Mike Quantity in pecks } &\text { Janet Quantity in pecks }\
\hline \$ 1 & 22 & 6 \
\hline \$ 2 & 18 & 3 \
\hline \$ 3 & 14 & 0 \
\hline \$ 4 & 10 & 0 \
\hline \$ 5 & 6 & 0 \
\hline

\end{array}$

Question

Refer to the table that presents Mike and Janet's demand for apples by the bushel. If they are the only two in the market, which of the following represents a point on the market demand curve? $\begin{array} { | c | c | c | } 
\hline \text { Price per pedk } & \text { Mike Quantity in pecks } &\text { Janet Quantity in pecks }\
\hline \$ 1 & 22 & 6 \
\hline \$ 2 & 18 & 3 \
\hline \$ 3 & 14 & 0 \
\hline \$ 4 & 10 & 0 \
\hline \$ 5 & 6 & 0 \
\hline

\end{array}$

Quizplus · Accepted Answer

To find a point on the market demand curve, you add the quantities demanded by Mike and Janet at each price level. At a price of $2, Mike demands 18 pecks and Janet demands 3 pecks, for a total of 21 pecks.

Refer to the Table That Presents Mike and Janet's Demand