In the table below, individual demand schedules for tex, dex and rex

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
2
1

7
4
3

9
6

5
4
14
5
5

7
23
4
6
8
8


b. (i) Which buyer demands the most at a price of $7?

(ii) Which buyer’s quantity demanded increases the least when the price is lowered from $7 to $6?

c. Which direction would the market demand curve shift if Tex withdrew from the market?

d. What if Dex doubled his purchases at each possible price?

e. Suppose that at a price of $6, the total quantity demanded increases from 14 to 22. Is this a ‘change in the quantity demanded’ or a ‘change in demand’?

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