them belong to Trito A, and the cether hulf belong to Tribe B. Individual iaverse demand functicens for mernbera of the tritoss are as follewre: Ta(Q)=1020, and P1(Q)=163Qh Guppose the market clearing price is currently $4. (a) At the market clearing price what is the price elasticity of demand for an intividuat rember of Tribe A' (thint: it's just a number because you can firal wout all the pieces of the elasticity formula] (b) What is the price elasticity of demund for an individual member ut tribe B at the curmove prirel 4 (c) Graph the two demand functions on separate ascs. Recall that these ane firt individuals in each trite. Thet, for each Tribe, determise witus the gosp demand curves will look like. Wite out the equaticens as well (d) Use your two Tnite demand curves to think logically through what the market Jemand function for this good will look like. Is the market detmund tunction linear? If tat, is there a kink? Where? Write your artwer as a proce-wae demand function. (e) Using your market denand equative, find the toeal quantity dermanded in the excenomy at the current market clearing price of $4. OHint yoe alvould verify that it is consistent with what you found alseg the way in parts 1) and 21. (f) What as the price elatieity of demand at this point an the markt? As the market Trite B's? Does thit male sctue to yea? Frpiain. Kes of the consumees (whire K is between 9 and 100 ? them belong to Trito A, and the cether hulf belong to Tribe B. Individual iaverse demand functicens for mernbera of the tritoss are as follewre: Ta(Q)=1020, and P1(Q)=163Qh Guppose the market clearing price is currently $4. (a) At the market clearing price what is the price elasticity of demand for an intividuat rember of Tribe A' (thint: it's just a number because you can firal wout all the pieces of the elasticity formula] (b) What is the price elasticity of demund for an individual member ut tribe B at the curmove prirel 4 (c) Graph the two demand functions on separate ascs. Recall that these ane firt individuals in each trite. Thet, for each Tribe, determise witus the gosp demand curves will look like. Wite out the equaticens as well (d) Use your two Tnite demand curves to think logically through what the market Jemand function for this good will look like. Is the market detmund tunction linear? If tat, is there a kink? Where? Write your artwer as a proce-wae demand function. (e) Using your market denand equative, find the toeal quantity dermanded in the excenomy at the current market clearing price of $4. OHint yoe alvould verify that it is consistent with what you found alseg the way in parts 1) and 21. (f) What as the price elatieity of demand at this point an the markt? As the market Trite B's? Does thit male sctue to yea? Frpiain. Kes of the consumees (whire K is between 9 and 100
