1. Ch. 7 Problems and Applications Q4 It is a hot day, and Nick is thirsty. Here is the value he places on a bottle of water: Value of first bottle: $8 Value of second bottle: $6 Value of third bottle: $4 Value of fourth bottle: $2 From this information, complete the following table by deriving Nick's demand schedule. Quantity Demanded Price More than $8 $6.01 to $8 $4.01 to $6 $2.01 to $4 to $2orfewer

1. Ch. 7 Problems and Applications Q4 It is a hot day, and Nick is thirsty. Here is the value he places on a bottle of water: From this information, complete the following table by deriving Nick's demand schedule. Based on Nick's willingness to pay, plot Nick's demand curve as a step function on the following graph using blue points (circle symbol) beginning at a quantity of 0 bottles of water