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9 - This Week Voluntary Exchange Markets Market Efficiency...

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This Week: Voluntary Exchange, Markets, Market Efficiency: The Two Pillars of Self-Interest and Competition
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Stralya’s Demand for Water 0.00 0.25 0.50 0.75 1.00 1.25 1.50 1.75 2.00 2.25 2.50 0.00 25.00 50.00 75.00 100.00 125.00 150.00 kL per Household per Quarter Price $AU/kL Price in Dollars per kilo liter (kL) P Quantity Demanded (quarterly water consumption in kilo liters (kL) q d = 112.50 – 50 P 2.25 0 1.50 37.50 1.00 62.50 0.50 87.50 0.00 112.50
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