Answer to Question #282656 in Microeconomics for Faizi

Question

Judy’s and Dan’s demand schedules for cola are: Quantity demanded by Price Judy Dan (cents per carton) (cartons per week) 10 12 6 30 9 5 50 6 4 70 3 3 90 1 2 If Judy and Dan are the only two individuals, what is the market demand for cola?

Answer 1

let's solve it in EXCEL

first, we calculate the individual demands of each buyer by multiplying the quantity by the price, and then we add up the two demands of these buyers and get the total market demand.