Suppose that the demand curve for movies for college students is60-Q, = 40 – 1.00pand for other town residents is50-Q2 = 10 - 0.25p.40-The town's total demand curve isQ=.30-Draw the following on the graph to the right.a 20-1.) Use the line drawing tool to draw the demand curve for movies for collegestudents. Label this line 'D,.10-2.) Use the line drawing tool to draw the demand curve for other town residents.Label this line 'D2'.0-40Q, Movies3.) Use the line drawing tool to draw the total demand curve. Label this line 'D'.2060Carefully follow the instructions above, and only draw the required objects.P. Price per movie

Total demand curve is the summation of all individuals demand curve.

Answered: 60- Q, = 40- 1.00p and for other town…

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter4: Markets In Action

Section: Chapter Questions

Problem 14SQ

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