The accompanying table contains the individual demand schedules of dark chocolat

Question

The accompanying table contains the individual demand schedules of dark chocolate for Vanessa and Angela. Assuming they are the only people in the market for dark chocolate, place each of their individual demand curves and the market demand curve at the correct locations on the accompanying graph. Price of dark Pounds of dark chocolate Pounds of dark chocolate demanded by Vanessa demanded by Angela (per pound) $8 $1 After a while, Angela gets sick of eating the bitter chocolate and decides to cut back on dark chocolate and enjoy white chocolate more. What happens as a result of Angela's decision? Select all of the correct answers. Market for Dark Chocolate 10 Vanessa's individual demand for dark chocolate increases to compensate for Angela's decreased demand. The market demand for dark chocolate will Angela's individual demand for white chocolate increases. Angela's individual demand for dark ch Scroll 0 123 5 7810

Explanation / Answer

When Angela decides to eat more of the white chocolate the market demand for a dark chocolate decrease (as there were only two consumers and one of them is not eating chocolates anymore), Angela's demand for the white chocolate increases and the demand for the dark chocolate decreases.

The right options are B, C, and D.  

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.