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The inverse demand for apples for Petra and Jamal is given by the functions pPetra=18(4.00q) and pJamal=18.00(2.00q), respectively. Here, p represents the per-unit price and
The inverse demand for apples for Petra and Jamal is given by the functions pPetra=18(4.00q) and pJamal=18.00(2.00q), respectively. Here, p represents the per-unit price and q is the quantity demanded. If the market per-unit price is p=4 and we assume there is enough supply to satiate their individual demands, then
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International Economics Theory and Policy
Authors: Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz
9th Edition
978-0132146654, 0132146657, 9780273754091, 978-0273754206
