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Question
Consider a market where there are just two consumers and suppose their demands for the good are given as follows:
Calculate the market demand for the goods.
|
p |
d1 |
d2 |
|
1 2 3 4 5 6 |
9 8 7 6 5 4 |
24 20 18 16 14 12 |
Solution
|
p |
d1 |
d2 |
Market demand = D = d1 + d2 |
|
1 2 3 4 5 6 |
9 8 7 6 5 4 |
24 20 18 16 14 12 |
9 + 24 = 33 8 + 20 = 28 7 + 18 = 25 6 + 16 = 22 5 + 14 = 19 4 + 12 = 16 |
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