Homework SourseIn the table below individual demand schedules for Tex Dex a
In the table below, individual demand schedules for Tex, Dex and Rex are shown in addition to total market demand.
a. Fill in the missing values in this table.
Price
Tex
Qd
Dex
Qd
Rex
Qd
Total Quantity
Demanded
$8
4
1
3
7
6
2
15
6
3
11
22
5
10
15
29
4
12
5
19
b. Which buyer demands the most at a price of $7? (Click to select)TexRexDex
Which buyer’s quantity demanded increases the least when the price is lowered from $7 to $6? (Click to select)DexTexRex
c. Which direction would the market demand curve shift if Tex withdrew from the market? (Click to select)No changeRightLeft
d. What if Dex doubled his purchases at each possible price? (Click to select)No changeLeftRight
e. Suppose that at a price of $6, the total quantity demanded increases from 22 to 32 units. Is this a \'change in the quantity demanded\' or a \'change in demand\'? (Click to select)A change in demandA change in the quantity demanded
| Price | Tex | Dex | Rex | Total Quantity |
| $8 | 4 | 1 | 3 | |
| 7 | 6 | 2 | 15 | |
| 6 | 3 | 11 | 22 | |
| 5 | 10 | 15 | 29 | |
| 4 | 12 | 5 | 19 |
Solution
a. Fill in the missing values in this table.
Price
Tex Qd
Dex Qd
Rex Qd
Total Quantity demanded
$8
4
1
3
8
7
6
2
7
15
6
8
3
11
22
5
10
4
15
29
4
12
5
19
36
b. Rex. - Dex
c. Shift to the left.
d. Shift to the Right.
e. Change in demand.
*****
| Price | Tex Qd | Dex Qd | Rex Qd | Total Quantity demanded |
| $8 | 4 | 1 | 3 | 8 |
| 7 | 6 | 2 | 7 | 15 |
| 6 | 8 | 3 | 11 | 22 |
| 5 | 10 | 4 | 15 | 29 |
| 4 | 12 | 5 | 19 | 36 |
