Figure 4-3

-Refer to Figure 4-3.If these are the only two consumers in the market,then the market quantity demanded at a price of $10 is

Question

Figure 4-3

-Refer to Figure 4-3.If these are the only two consumers in the market,then the market quantity demanded at a price of $10 is

Quizplus · Accepted Answer

The market quantity demanded is the sum of the quantities demanded by each consumer. At a price of $10, consumer 1 demands 5 units and consumer 2 demands 3.33 units. Therefore, the market quantity demanded is 5 + 3.33 = 8.33 units.

Figure 4-3 -Refer to Figure 4-3.If These Are the Only Two Consumers