Question: Amy's demand function for ice cream cones is q = 4 P , and Brian's demand function is q = 6 2P . Assume Amy

Amy's demand function for ice cream cones is q = 4 P , and Brian's demand function is

q = 6 2P . Assume Amy and Brain are the only consumers in the market.

  1. (a) What is the aggregate demand of both Amy and Brian?
  2. (b) Suppose the market is perfectly competitive and the supply function is Q = P 1. What is the equilibrium price and quantity?
  3. (c)Plot the aggregate demand function and the market equilibrium on a graph.
  4. (d) Now suppose there is another consumer Charlie in the market and his demand
  5. function is q = 8 4P . What is the aggregate demand function of all 3 consumers?

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