1. Suppose there are two people in the economy, Jenny and Lorenzo. Their demands for reduction...

 

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1. Suppose there are two people in the economy, Jenny and Lorenzo. Their demands for reduction in the night sky pollution (a public good) is given by: QJ = otherwise 6 2P if 0 < P3 0 - 4 -3P if 0 P < 1.33 QL = 0 a. Plot their individual demand. b. Plot the aggregate demand. otherwise c. What is the equation for aggregate demand QT(P)? This requires stating the total demand QT as a function of P. Be careful with your listing of the points where the slope changes. 1. Suppose there are two people in the economy, Jenny and Lorenzo. Their demands for reduction in the night sky pollution (a public good) is given by: QJ = otherwise 6 2P if 0 < P3 0 - 4 -3P if 0 P < 1.33 QL = 0 a. Plot their individual demand. b. Plot the aggregate demand. otherwise c. What is the equation for aggregate demand QT(P)? This requires stating the total demand QT as a function of P. Be careful with your listing of the points where the slope changes.