1.6 The food and feed demand curves used in the Application Summing the Corn Demand Curves were...
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1.6 The food and feed demand curves used in the Application “Summing the Corn Demand Curves”
were estimated by McPhail and Babcock (2012) to be Qfood = 1,487 - 22.1p and Qfeed = 6,247.5
- 226.7p, respectively. Mathematically derive the total demand curve, which the Application’s figure illustrates. (Hint: Remember that the demand curve for feed is zero at prices above $27.56.) A
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