1.

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

Answer»

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.



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