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Consider a small community where each individual has the following demand curve for fresh water, a rival good: Pi = 20 2Qi Where: Pi is
Consider a small community where each individual has the following demand curve for fresh water, a rival good: Pi = 20 2Qi Where: Pi is the price individual i is willing to pay for each unit of fresh water. Qi is the quantity of fresh water consumed by individual i. Assuming there are 100 identical individuals in the community, compute the aggregate demand for fresh water in the community. Hint: For rival goods like fresh water, one person's consumption reduces the amount available for others. The aggregate demand is found by adding up the quantities demanded by each individual at every price level. ie you want to sum horizontally across the population
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