Figure 5-3

Assume the market consists of three consumers with the demand curves in Figure 5-3. At a price of 1, the total market demand is

Name: Figure 5-3 Assume the market consists of three consumers with the demand curves in Figure 5-3. At a price of 1, the total market demand is
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Question

Figure 5-3

Assume the market consists of three consumers with the demand curves in Figure 5-3. At a price of 1, the total market demand is

Quizplus · Accepted Answer

At a price of 1, the quantity demanded by Consumer A is 20, by Consumer B is 40, and by Consumer C is 80. Thus, the total market demand is 20+40+80=140.

Figure 5-3 Assume the Market Consists of Three Consumers with the Demand