Consider a market where there are just two consumers and suppose their demands for the good are given as follows:
Calculate the market demand for the good.
P | d1 | d2 |
1 | 9 | 24 |
2 | 8 | 20 |
3 | 7 | 18 |
4 | 6 | 16 |
5 | 5 | 14 |
6 | 4 | 12 |
Market Demand is total demand i.e d1 + d2
P | d1 | d2 | Market Demand |
1 | 9 | 24 | 33 |
2 | 8 | 20 | 28 |
3 | 7 | 18 | 25 |
4 | 6 | 16 | 22 |
5 | 5 | 14 | 19 |
6 | 4 | 12 | 16 |