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Question 4 Two consumers, Smith and Jones, have the following demand curves for Podunk Public Radio broadcasts of recorded opera on Saturdays: Smith: Ps =

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Question 4 Two consumers, Smith and Jones, have the following demand curves for Podunk Public Radio broadcasts of recorded opera on Saturdays: Smith: Ps = 12 - Q Jones: PJ = 12 - 2Q Where Ps and PJ represent marginal willingness-to-pay values for Smith and Jones, respectively, and Q represents the number of hours of opera broadcast each Saturday. (a) If Smith and Jones are the only public radio listeners in Podunk, construct the demand curve for opera broadcasts

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