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16 October, 12:31

At the price of $3 a pound of pork, Jason buys 8 pounds of pork and Noelle buys 10 pounds of pork. When the price rises to $5 a pound, Jason buys 5 pounds of pork and Noelle buys 7 pounds of pork. What is the market demand at $5?

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  1. 16 October, 13:18
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    Market demand at $5 is 12 pork.

    Step-by-step explanation:

    In a market, the sum of individual demand for a product from buyers is known as market demand.

    It is give that the at the price of $3 a pound of pork, Jason buys 8 pounds of pork and Noelle buys 10 pounds of pork.

    So, market demand at $3 is

    8 + 10 = 18

    When the price rises to $5 a pound, Jason buys 5 pounds of pork and Noelle buys 7 pounds of pork.

    So, market demand at $5 is

    5 + 7 = 12

    Therefore, the market demand at $5 is 12 pork.
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