Question: Question 4 (10 points) [10 marks] For the following question, . You get 2 marks for choosing the correct answer. . Draw a graph and
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Question 4 (10 points) [10 marks] For the following question, . You get 2 marks for choosing the correct answer. . Draw a graph and show the consumer's demand curves as well as the market demand curve and it's function to get (up to) 8 marks. If consumer A's demand curve is described by qA - 40 - p and consumer B's demand curve is given by 9B - 60 - 2p, then each of their demand curves will pass through the point q=20, p=10. Therefore if they are the only two consumers in a market, the market demand curve will pass through (a) q=20, p=20. (b) q=40, p=20. (c) q=20, p=30. (d) q=40, p=10. (e) None of the above
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