There are only two people in the market - Amber and Zoe. Amber’s Marginal Willingness to Pay (MWTP) for the Qth bit of the good is given by MWTP=383-2*Q. Zoe’s Marginal Willingness to Pay (MWTP) for the Qth bit of the good is given by MWTP=51-3*Q. Based on this information, what is the market MWTP for the 32th bit of the good? Enter a number only.
There are only two people in the market - Amber and Zoe. Amber’s Marginal Willingness to Pay (MWTP) for the Qth bit of the good is given by MWTP=383-2*Q. Zoe’s Marginal Willingness to Pay (MWTP) for the Qth bit of the good is given by MWTP=51-3*Q. Based on this information, what is the market MWTP for the 32th bit of the good? Enter a number only.
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter3: Demand, Supply, And The Market Process
Section: Chapter Questions
Problem 7CQ
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There are only two people in the market - Amber and Zoe.
Amber’s Marginal Willingness to Pay (MWTP) for the Qth bit of the good is given by MWTP=383-2*Q.
Zoe’s Marginal Willingness to Pay (MWTP) for the Qth bit of the good is given by MWTP=51-3*Q.
Based on this information, what is the market MWTP for the 32th bit of the good? Enter a number only.
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