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Question 2: (10 marks) Suppose a market has identical consumers, each of whom the same equation for the demand curve, given by: P = 100
Question 2: (10 marks) Suppose a market has identical consumers, each of whom the same equation for the demand curve, given by: P = 100 10Q. en there are: w all working for parts (I) and (II). Part B: Explain clearly why the demand curve's slope gets atter as more (identical) consumers are added to the market hint: consider the effect on quantity demanded when price falls in the presence of a larger or smaller number of consumers. (6 marks) (Word limit = 400 words)
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