Market Demand And Demand Equation For The Fruit Sellers

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1. There is a fruit seller who 30 kilo of apples has sold, and he wants to fix a price so that all apples are sold. There are three customers in the market and their individual demand functions are listed below: D1 = 25 .05P D2 = 20 .025P D3 = 15 .075P Where D is the demand and the price P Determine: Market demand equation for the fruit sellers (2.5 points) Price at which he can sell all the apples (2.5 points) Individual requirements of each of the three clients (5 points) Answer: If Qs 30 kilo of apples are sold and = there are three customers in the market and their individual demand functions are listed below: D1 = 25 .05P D2 = 20 .025P D3 = 15 .075P Then the market demand equation for the fruit sellers will be: D = D1 + D2 + D3 = 60

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