1. State the law of demand. Why is price inversely related to quantity demanded?
2. You're given the following individual demand tables for comic books.
![2001_37595392-993d-489a-9232-aaa09ddd601f.png](https://secure.tutorsglobe.com/CMSImages/2001_37595392-993d-489a-9232-aaa09ddd601f.png)
a. Determine the market demand table.
b. Graph the individual and market demand curves.
c. If the current market price is $4, what's total market demand? What happens to total market demand if price rises to $8?
d. Say that an advertising campaign increases demand by 50 percent. What will happen to the individual and market demand curves?