10) Given these two individual demand curves of consumers A and B, what is the equation...
10) Given these two individual demand curves of consumers A and B, what is the equation for the market demand curve? i. P = 100 – 10qA ii. P = 100 - (5/4)qB
A. P = 90 – 10/9Q
B. P = 200 – 11.25Q
C. P = 100 – 11.25Q
D. P = 90 – 0.9Q
E. None of the above
Homework Answers
Market demand curve is obtained by horizontally adding individual demand curve.In this case the intercept (100 ) would remain the same but the slope will change.
New slope=10+5/4=11.25
New market demand=100-11.25Q
Answer-C
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