Anna demand for bottled water is given by the equation Q=80.5P Bob's demand is Q =6 P.

5. Find the equation for the aggregate demand for bottled water, assuming anna

and Bob are the only consumers in the bottled water market.

6. Determine how many bottles of water will be purchased in the market at a price of

$10/bottle. Illustrate graphically.

7. Calculate aggregate from consuming bottled water at $10/bottle. Illustrate

graphically.

8. Calculate aggregate CS from consuming bottled water at $10/bottle. Illustrate

graphically.

9. Determine how many bottles of water will be purchased at a price of $4/bottle.

Illustrate graphically.

10. Calculate aggregate TB from consuming bottled water at $4/bottle. Illustrate

graphically.

11. Calculate aggregate CS from consuming bottled water at $4/bottle. Illustrate

graphically.

12. If 2 producers make up the supply side of the market, producer 1's marginal cost equation is MC1=2.5+2Q1 AND MC2=2.5+1.5Q2 find and graph the equation

for aggregate MC.

13. What is the MC of the 10 th bottle of water?

14. How many bottles of water will be produced if the market price is $10/bottle?

15. Calculate PS for the market as a whole as well as for each producer from selling

bottled water at a price of $4/bottle.