Suppose that Paolo and Sharon are the only consumers of ice cream cones in a particular market. The following table shows their monthly demand schedules: Price Paolo’s Quantity Demanded Sharon’s Quantity Demanded (Dollars per cone) (Cones) (Cones) 1 8 16 2 5 12 3 3 8 4 1 6 5 0 4 On the following graph, plot Paolo’s demand for ice cream cones using the green points (triangle symbol). Next, plot Sharon’s demand for ice cream cones using the purple points (diamond symbol). Finally, plot the market demand for ice cream cones using the blue points (circle symbol). Note: Line segments will automatically connect the points. Remember to plot from left to right. Paolo’s Demand Sharon’s Demand Market Demand 0 4 8 12 16 20 24 6 5 4 3 2 1 0 PRICE (Dollars per cone) QUANTITY (Cones)

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MrRoyal MrRoyal · Answer 1 · 2022-02-13T10:47:25+01:00

The demand curves are used to represent the relationship between the price of a product and the demanded quantity of the same product.

From the table, we have the following ordered pairs

Paolo: [tex](x,y) = {\left(1,8\right),\left(2,5\right),\left(3,3\right),\left(4,1\right),\left(5,0\right)}[/tex]

Sharon: [tex](x,y) = \left(1,16\right),\left(2,12\right),\left(3,8\right),\left(4,6\right),\left(5,4\right)[/tex]

Where x represents the price, and the quantity demanded is represented by y

See attachment for the graphs that represent the demand curves of Paolo and Sharon.

Where:

The green dots represent Paolo's and the orange dots represent Sharon's