Question
suppose that Zimal and Zawaiyar are the only consumers of perfumes in a particular market. The following table shows their annual demand schedules: Price (Per
suppose that Zimal and Zawaiyar are the only consumers of perfumes in a particular market. The following table shows their annual demand schedules:
Price (Per Bottle of Perfume) | Zimal’s Quantity Demanded | Zawaiyar’s Quantity Demanded | Market Supply |
100 | 600 | 650 | 250 |
200 | 500 | 550 | 450 |
300 | 400 | 450 | 850 |
400 | 300 | 350 | 1050 |
500 | 200 | 250 | 1250 |
600 | 100 | 150 | 1450 |
Given the following information construct market demand curve and find the market equilibrium.
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Microeconomics
Authors: Douglas Bernheim, Michael Whinston
2nd edition
73375853, 978-0073375854
