3) Berkeley's undergraduate population wanting to learn economics is split into two camps. There are economics majors and business school students. I will refrain from cracking jokes. Both demand chocolate. For now assume that all economics students have identical individual demand curves and that all business school students have identical demand curves (but different from those of the economics students). There are 1000 econ students and 250 business school students. Each econ student's demand curve is given by qe = 5 2.5p, where qe is the quantity demanded by an econ student at chocolate price p. Each business school student's demand is given by qb = 4 0.8p. a. Calculate the aggregate demand for chocolate from the econ students. b. Calculate the aggregate demand for chocolate from the business school students. Calculate and draw the inverse demand curve for the econ and then the business school students in the same graph. Draw the aggregate demand for chocolate across the two populations. What is the function for aggregate demand? What is the function for aggregate inverse demand? What is the own price elasticity of aggregate demand at a price of $3? What is the own price elasticity of aggregate demand at a price of $1? ("I :ranhrbp