Question 3 (c). Market Demand Curve [Ch.4] Imagine Sue's demand curve for shoes is Q=8-2P and Jackie's demand curve is Q-12-2P. The market supply curve for shoes is given by Q=4P-8. Question 8 c. What is the market demand function for shoes if Jackie and Sue are the only consumers of shoes in this market? Q = 12 - 2P for P>4 and Q = 20 - 4P for P <=4 Q = 8-2P Q = 8 - 2P for P>6 and Q = 20 - 4P for P <=6 Q = 8 - 2P for P<=6 and Q = 20 - 4P for P >6 Q = 20 - 4P Q = 12 - 2P for P>6 and Q = 20 - 4P for P <=6 Q = 12 - 2P for P<=4 and Q = 20 - 4P for P > 4 Q = 12 - 2P for P<=6 and Q = 20 - 4P for P >6 Q = 12-2P

Question 3 (c). Market Demand Curve [Ch.4] Imagine Sue's demand curve for shoes is Q=8-2P and Jackie's demand curve is Q-12-2P. The market supply curve for shoes is given by Q=4P-8. Question 8 c. What is the market demand function for shoes if Jackie and Sue are the only consumers of shoes in this market? Q = 12 - 2P for P>4 and Q = 20 - 4P for P <=4 Q = 8-2P Q = 8 - 2P for P>6 and Q = 20 - 4P for P <=6 Q = 8 - 2P for P<=6 and Q = 20 - 4P for P >6 Q = 20 - 4P Q = 12 - 2P for P>6 and Q = 20 - 4P for P <=6 Q = 12 - 2P for P<=4 and Q = 20 - 4P for P > 4 Q = 12 - 2P for P<=6 and Q = 20 - 4P for P >6 Q = 12-2P

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter5: Consumer Choice: Individual And Market Demand

Section: Chapter Questions

Problem 6TY

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