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.

Please help with this problem. 6. (1.5 points) The market is composed

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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