2024 – In the table below individual demand schedules for Tex Dex and Rex are shown in addition to

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’?