Suppose that in the market for roses, there are only 2 consumers with different demand functions:
Jordan's demand function is QD = 20 - 2PJo Jo's demand function is QD = 48 - 6P
(a) Derive the equations for the market demand function. (Hint: You should have three expressions for market demand depending on the price).
(b) Draw the market demand curve for roses using your answer from Part (a).