Assume That the Market for Cheeseburgers Consists of Only Three

question 46

Essay

Assume that the market for cheeseburgers consists of only three individuals: Jerry, George, and Elaine. Here are their demand schedules:
$$\begin{array} { l l l l l l } \hline \text { Price } & \begin{array} { l } \text { Jerry's } \\\text { Demand }\end{array} & \text { Price } & \begin{array} { l } \text { George's } \\\text { Demand }\end{array} & \text { Price } & \begin{array} { l } \text { Elaine's } \\\text { Demand }\end{array} \\\hline \$ 0 & 5 & \$ 0 & 8 & \$ 0 & 2 \\\$ 2 & 4 & \$ 2 & 7 & \$ 2 & 2 \\\$ 4 & 4 & \$ 4 & 7 & \$ 4 & 1 \\\$ 6 & 3 & \$ 6 & 6 & \$ 6 & 1 \\\$ 8 & 2 & \$ 8 & 5 & \$ 8 & 0 \\\$ 10 & 1 & \$ 10 & 4 & \$ 10 & 0 \\\hline\end{array}$$
From the information in demand schedules, answer the following questions:
a. If the price of a cheeseburger was $2, how many cheeseburgers would be sold?
b. If the price of a cheeseburger was $8, how many cheeseburgers would be sold?
c. Construct the market demand schedule for cheeseburgers.

Understand the developmental implications of brain myelination and synaptic pruning in early childhood.

Understand the legal implications of misrepresentation and breach of warranty in sales.

Differentiate between ethical and unethical sales practices.

Recognize the legal boundaries of sales promotions and statements.

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