5.22. Suppose the market for rental cars has two segments, business travelers and vacation travelers. The demand
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5.22. Suppose the market for rental cars has two segments, business travelers and vacation travelers. The demand curve for rental cars by business travelers is Qb !
35 " 0.25P, where Qb is the quantity demanded by business travelers (in thousands of cars) when the rental price is P dollars per day. No business customers will rent cars if the price exceeds $140 per day.
The demand curve for rental cars by vacation travelers is Qv ! 120 " 1.5P, where Qv is the quantity demanded by vacation travelers (in thousands of cars) when the rental price is P dollars per day. No vacation customers will rent cars if the price exceeds $80 per day.
a) Fill in the table to find the quantities demanded in the market at each price.
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