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Market Demand (3 points): Michael and Sara like ice cream. At a price of 0 Swiss Francs per scoop, Michael would eat 7 scoops per
Market Demand (3 points):Michael and Sara like ice cream. At a price of 0 Swiss Francs per scoop, Michael would eat 7 scoops per week, while Sara would eat 12 scoops per week at a price of 0 Swiss Francs per scoop. Each time the price per scoop increases by 1 Swiss Francs, Michael would ask 1 scoop per week less and Sara would ask 4 scoops per week less. (Assume that the individual demands are linear functions.) What is the market demand function in this 2-person economy? x denotes the number of scoops per week and p the price per scoop.
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