markets1a - 1 Additional Problem 1 Market Analysis(Answer...

Info icon This preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
1 Additional Problem 1 : Market Analysis (Answer Key) Use the information in the table to answer the following questions. Tom’s Demand Dick’s Demand Harry’s Demand Beer Price (per 6 pack) Quantity of Beer Demanded Beer Price (per 6 pack) Quantity of Beer Demanded Beer Price (per 6 pack) Quantity of Beer Demanded $10 0 $10 1 $10 0 9 0 9 3 9 1 8 0 8 5 8 5 7 1 7 7 7 8 6 2 6 9 6 11 5 4 5 12 5 12 4 6 4 15 4 15 3 10 3 18 3 18 2 15 2 21 2 20 1 21 1 24 1 23 0 25 0 25 0 25 1. Draw Tom, Dick, and Harry’s individual demand curves for beer. Use graph paper to aid your construction. Tom’s Demand Curve Dick’s Demand Curve P P 10 10 8 8 6 6 4 4 2 2 D D 0 5 10 15 20 25 30 Q 0 5 10 15 20 25 30 Q
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon