Consider a market with two consumers a and b that have, Business Economics

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Consider a market with two consumers a and b that have

Consider a market with two consumers, A and B that have individual demand functions of q D A = 12 2p q D B = 9 p and a market supply function of Q S = 4 + 2p

(a) Plot both demand curves and the supply curve.

(b) What is the equilibrium price in this market? (Hint: You may need to derive another curve to Önd this) 1 (c) How much of the good does each consumer demand in equilibrium?

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Business Economics: Consider a market with two consumers a and b that have

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Business Economics: Consider a market with two consumers a and b that have

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