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Please solve this and show all possible work 1. Draw the step demand function when each buyer is willing to purchase at most one unit
Please solve this and show all possible work
1. Draw the step demand function when each buyer is willing to purchase at most one unit and buyers' reservation prices are distributed as follows: 86(2 buyers), 80(2 buyers), 74(1 buyer), 60(3 buyers), 50(1 buyer), 48(2 buyers), 26(1 buyer), 10(2 buyers). 100 Price 90 80 70 60 50 40 40 30 20 20 10 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 2. Find the inverse demand function for D(p) = 50-5p and draw it. 12 Quantity Price 10 8 9 4 2 0 0 5 10 15 20 25 30 55 35 40 45 45 50 55 Quantity
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