Romeo and Juliet purchase a product in a perfectly competitive market. Romeo has a demand curve given by 280 4 D Q P R = . Juliet's demand curve is 1 (280 4 ) 3 D Q P J = . Romeo and Juliet are the only buyers of this good and so the market demand curve is given by ( ) 4 280 4 3 D Q P = The market supply is given by the QS = 4P. a) Illustrate the market supply and demand curves. Given the supply and demand curves what is the market clearing price and quantity in the market in the short run