Suppose there are two consumers in the market for a good and their dem

1.	Suppose there are two consumers in the market for a good and their demand functions are as follows: d1(p)=20−p for any price less than or equal to 20 and d1(p)=0 at any price greater than 20. d2(p)=30−2p for any price less than or equal to 15 and d1(p)=0 at any price greater than 15. Find out the market demand function.
Answer» Suppose there are two consumers in the market for a good and their demand functions are as follows: $d_{1} (p) = 20 - p$ for any price less than or equal to 20 and $d_{1} (p) = 0$ at any price greater than 20. $d_{2} (p) = 30 - 2 p$ for any price less than or equal to 15 and $d_{1} (p) = 0$ at any price greater than 15. Find out the market demand function.

Suppose there are two consumers in the market for a good and their demand functions are as follows: d1(p)=20−p for any price less than or equal to 20 and d1(p)=0 at any price greater than 20. d2(p)=30−2p for any price less than or equal to 15 and d1(p)=0 at any price greater than 15. Find out the market demand function.

Answer»

Suppose there are two consumers in the market for a good and their demand functions are as follows:

$d_{1} (p) = 20 - p$ for any price less than or equal to 20 and $d_{1} (p) = 0$ at any price greater than 20.

$d_{2} (p) = 30 - 2 p$ for any price less than or equal to 15 and $d_{1} (p) = 0$ at any price greater than 15.

Find out the market demand function.

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