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Fantom
18 days ago
10

Sheila is hosting a large diplomatic event and needs to increase her inventory of dinnerware sets. She has set a $1925 budget an

d will choose dinnerware that will give her as much utility as possible. She shops online at Dinnerware Outlet and finds a deal for 30 sets of dinnerware on sale for $35 and she purchases them. A few days later, an email notifies her that another website called DinnerTime offers a deal for 35 sets of dinnerware for $25, while all other prices remain the same, and she snags them too. Given this information, plot Sheila's demand curve for plates and cups.
Business
1 answer:
stepan [3.5K]18 days ago
6 0
Demand curve representing Sheila's plates and cups: Explanation: We need to establish the demand function for Sheila's based on the points provided. This involves determining the line that connects those two points. After that, we can solve for b. Thus, we get b = 22.5, and we conclude by constructing the demand curve.
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