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Assume that the market for cheeseburgers consists of only three individuals: Jerry, George, and Elaine. Here are their demand schedules:
Price
Jerry's Demand
George's Demand
Elaine's Demand
$0
5
8
2
$2
4
7
$4
1
$6
3
6
$8
0
$10
From the information in demand schedules, answer the following questions:
a. If the price of a cheeseburger were $2, how many cheeseburgers would be sold? 6.
b. If the price of a cheeseburger were $8, how many cheeseburgers would be sold?
c. Construct the market demand schedule for cheeseburgers
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