4. [Market Equilibrium] Below are demand and supply schedules for the gasoline. Assume that non-integer quantities are p

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4 Market Equilibrium Below Are Demand And Supply Schedules For The Gasoline Assume That Non Integer Quantities Are P 1 (107.71 KiB) Viewed 13 times

b. Plot Evan and Mathias’s individual demand curves for cookieson separate graphs.
c. Suppose the price of a cookie is $2. How many cookies willeach individual consume?
d. Assuming Evan and Mathias are the only two consumers in themarket for cookies, derive themarket demand for cookies.e. What are Evan and Mathias’s individual consumer surpluses if theprice of a cookie is $2?What is the total consumer surplus in the market?
4. [Market Equilibrium] Below are demand and supply schedules for the gasoline. Assume that non-integer quantities are possible. Price ($/gallon) $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 Demand 18 16 14 12 10 8 Supply 6 7 8 9 10 11