Question
Differentiate between one dimensional and two dimensional diagrams.
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Demand schedule for three consumers such as Mohan, Rohan and Mitu for a commodity is given below. Derive the market demand schedule.
| Price (₹) | Demand Schedule of Mohan (Units) | Demand Schedule of Rohan (Units) | Demand Schedule of Mitu (Units) |
| 1 | 60 | 55 | 24 |
| 2 | 50 | 40 | 13 |
| 3 | 40 | 25 | 5 |
| 4 | 30 | 10 | 0 |
| 5 | 20 | 0 | 0 |
| Units Sold | Total Revenue (₹) | Average Revenue (₹) | Marginal Revenue (₹) |
| 1 | 10 | ||
| 2 | 24 | ||
| 3 | 33 | ||
| 4 | 40 | ||
| 5 | 40 | ||
| 6 | 36 | ||
| 7 | 28 |
|
X
|
160
|
150
|
152
|
161
|
156
|
|
Frequency
|
5
|
8
|
6
|
3
|
7
|