Please answer questions 1.1-1.4.

AaBbCcDd AaBbCcDd AaBbC( AaBbCcC Aa B Lit 1 Normal G' Replace 1 No Spac... Heading 1 Heading 2 Title Create and Sh Select Adobe PD Paragraph Styles S Editing Adobe 1) The table shows the marginal value (MV) schedule for person A. The marginal values are measured in dollars. Assume that the buyer will buy if the price is larger and equals the MV. Quantity of X MV of X 20 2 18 3 16 14 12 10 8 6 10 The table below is a marginal value schedule for person B and person C. B's Marginal Value of X C's Marginal Value of X Quantity of X MV of X Quantity of X MY of X 12 8 10 6 8 3 4 2 To 1.1) Assume now that there are three people (A, B, and C) in the market for product X, as shown in the previous two tables. Draw a graph that shows each individual's demand curves and the market demand curve. Be sure to label each axis and each of the respective individual demand curves. 1.2) In our market for X, consisting of A, B and C, assume the price of X is 6Y a) How many units of X will be sold in total? b) How many units will A purchase? c) How many units will B purchase? 1.3) Given the number of units of X that A, B, and C purchased in the previous question, a) What is the total value to A of all the units of X he purchased? b) What is the total value to B of all the units of X he purchased? c) What is the total value to C of all the units of X he purchased? d) What is the total value to A, B and C of all of the units they purchased? 1.4) What would happen to the total value of the units of X purchased by A, B, and C in the previous questions, if we arbitrarily took one unit of X from A and gave it to B? In answering this question, tell by how much the total value changes