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Question
Study the following table, figure, passage and answer the question given below it.
| Price of commodity ‘ X | Quantity of ‘X‘ in kgs. | Market demand | ||
|
Consumer A |
Consumer B |
Consumer C |
A+B+C | |
| 10 | 5 | 10 | 15 | 30 |
| 8 | 10 | 15 | ______ | 45 |
| 6 | ______ | 20 | 25 | 60 |
| 4 | 20 | ______ | 30 | 75 |
| 2 | 25 | 30 | 35 | ______ |
| 1 | 30 | 35 | 40 | 105 |
- Complete the table. (2m)
- Draw Market demand curve based on above Market demand schedule and label it. (2m)
Solution
A. Complete the table.
| Price of commodity ‘ X | Quantity of ‘X‘ in kgs. | Market demand | ||
|
Consumer A |
Consumer B |
Consumer C |
A+B+C | |
| 10 | 5 | 10 | 15 | 30 |
| 8 | 10 | 15 | 20 | 45 |
| 6 | 15 | 20 | 25 | 60 |
| 4 | 20 | 25 | 30 | 75 |
| 2 | 25 | 30 | 35 | 90 |
| 1 | 30 | 35 | 40 | 105 |
B. Draw market demand curve based on above market demand schedule and label it.
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