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Jennifer's demand function for ice cream cones is qgem = 10 2.5P at prices no greater than $4 and zero at prices above $4. Amy's
Jennifer's demand function for ice cream cones is qgem = 10 2.5P at prices no greater than $4 and zero at prices above $4. Amy's demand function is qfflmy = 9 1.5P at prices no greater than $6 and zero at prices above $6. (a) What is the market demand function? Graph the individual and market de- mand curves. (b) If the market supply function is Q3 = 2P 6 at prices no less than $3 and zero at prices below $3. What is the market equilibrium price? (c) Now suppose there is another consumer Brian, Whose demand function is s qjrmn = 3 P at prices no greater than $3 and zero at prices above $3. What is the market demand function now? Graph the individual and market demand
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