Advertisements
Advertisements
Question
Using hypothetical data show a market demand schedule.
Chart
Advertisements
Solution
The demand schedule summarises the information on prices and quantities demanded. It shows different quantities of a commodity demanded (per period of time) at different prices (per unit of the commodity).
| Price of Sugar ₹(per kg) | Demand by Consumer A (kg per month) | Demand by Consumer B (kg per month) | Demand by Consumer C (kg per month) | Market Demand (kg per month) A + B + C |
| 30 | 1 | 2 | 3 | 6 |
| 29 | 2 | 3 | 4 | 9 |
| 28 | 3 | 4 | 5 | 12 |
| 27 | 4 | 5 | 6 | 15 |
| 26 | 5 | 6 | 7 | 18 |
shaalaa.com
Is there an error in this question or solution?
