Question: Please help with this problem. 6. (1.5 points) The market is composed of 8 consumers (A, B, O, D, E, F, G, H). For 2'
Please help with this problem.

6. (1.5 points) The market is composed of 8 consumers (A, B, O, D, E, F, G, H). For 2' E {A, B, 0}, consumer i's individual demand is represented by q, (p) = max{10 239,0} and for 2' E {D, E, F, G, H}, consumer i's individual demand is q,(p) = max{10 5p, 0}. Here, 39 is the price. (a) Find the market demand function, i.e., Q (p). Plot the market demand function. (0.5 point) (b) Find the consumer surplus corresponding to the market demand as a function of p. (0.5 point) (c) Find the price elasticity of demand (whenever possible), i.e., 77,, (Q). (0.5 point)
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