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Bob and Valerie are neighbours who enjoy consuming caviar. The demand curve for caviar for Bob and Valerie are given as follows: Bob: p=40-q b
Bob and Valerie are neighbours who enjoy consuming caviar. The demand curve for caviar for Bob and Valerie are given as follows: Bob: p=40-qb Valerie: p=80-qv where qb is quantity demanded by Bob and qv is quantity demanded by Valerie. If Bob and Valerie are the only two consumers of caviar, what is the market demand if price is 50? Round your answer to two decimal places.
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