a. Construct the market demand schedule. b. What is the maximum price that each traveler is willing
Question:
a. Construct the market demand schedule.
b. What is the maximum price that each traveler is willing to pay to travel 20 miles? Why?
The table gives the demand schedules for train travel for the only buyers in the market, Ann, Beth, and Cy.
Transcribed Image Text:
Price (dollars per mile) 3 4 5 6 7 8 9 Ann 30 25 20 15 10 5 0 Quantity demanded (miles) Beth 25 20 15 10 5 0 0 Cy 20 15 10 5 0 0 0
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