Question
11. Suppose Jacob and Julius are the only 2 consumers in a market. Jacob's demand curve
for TVs is given by Q 1348 - 4P, while Julius's demand curve is given by P + 2Q
206 as shown in the diagram below. When the market quantity demanded is 600,
what is the market price?
337
206
Jacob
Julius
103
1348
A. R312.34
B. R189.11
C. R56.00
D. R206.22
E. R807.00

Image Transcription

11. Suppose Jacob and Julius are the only 2 consumers in a market. Jacob's demand curve for TVs is given by Q 1348 - 4P, while Julius's demand curve is given by P + 2Q 206 as shown in the diagram below. When the market quantity demanded is 600, what is the market price? 337 206 Jacob Julius 103 1348 A. R312.34 B. R189.11 C. R56.00 D. R206.22 E. R807.00

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