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In a very small town, Bill and Jared are the only potential buyers from the local fisherman. Bill's demand function for pounds of fish is
In a very small town, Bill and Jared are the only potential buyers from the local fisherman. Bill's demand function for pounds of fish is given by =20, where is the number of pounds of fish demanded, and is the price of a pound of fish. Jared has the same reservation price as Bill. However, at any price below the reservation price, Jared is willing to buy twice as many pounds of fish as Bill
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