Figure 4-2[table]
Consumer 1 | Consumer 2
|
[/table]Refer to Figure 4-2.If these are the only two consumers in the market, then the market quantity demanded at a price of $15 is

Question

Figure 4-2​[table]
Consumer 1 | Consumer 2
|
[/table]​Refer to Figure 4-2.If these are the only two consumers in the market, then the market quantity demanded at a price of $15 is

BlackTom AI · Accepted Answer

To determine the market quantity demanded at a given price, we need to examine each individual consumer’s demand at that price and sum them up.
Option a (20 units): This would require that at price $15, each consumer (or at least one of them) would demand a positive quantity totaling 20 units. Looking at the two demand curves in Figure 4-2, the quantities demanded at price 15 are not that high; the lines indicate much lower willingness to purchase as price rises. Thus, 20 units is inconsistent with the shown demand at $15.
Option b (10 units): If the price is $15, a demand of 10 units would imply a meaningful amount of consumption by at least one consumer. However, tracing the demand lines on both graphs, the quantity corresponding to price 15 is far less than 10 units for each consumer, and the sum would not reach 10. Therefore, this option overestimates the market quantity at $15.
Option c (5 units): This would require that the combined willingness to buy at $15 equals 5 units. While this is closer than 20 or 10, the individual demand curves at price 15 still suggest very small or zero quantities for each consumer, so a total of 5 units is unlikely given the intercepts shown on the graphs.
Option d (0 units): The graphs depict that at price $15, each consumer’s demand is zero (the choke point or the price above which they are not willing to purchase any positive quantity). When you add the two zero quantities together, the market quantity demanded is 0 units. This is consistent with the intercepts shown on both demand curves at or above $15, where no quantity is demanded.
In summary, evaluating the intercepts and slopes of both individual demand curves at price $15 shows that neither consumer is willing to buy any units at that price, leading to a total market quantity demanded of 0 units.

Figure 4-2[table] Consumer 1 | Consumer 2 | [/table]Refer to Figure 4-2.If these are the only two consumers in the market, then the market quantity demanded at a price of $15 is

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