Suppose that Florian's demand for good Z is QDElaria, = 24 - 3P and Sara's demand...
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Suppose that Florian's demand for good "Z" is QDElaria, = 24 - 3P and Sara's demand is Qp Sara = 32 - 4P. b) Draw each demand curve on the same graph. (Q on the horizontal axis and P on the vertical axis.) Do not forget to include the value of the intercepts on the vertical and horizontal axes for each curve. Label Florian's demand curve "Florian" and Sara's demand curve "Sara". c) Derive the market (combined) demand equation for good Z, assuming it is a private good. Make sure to show all your work. d) Derive the market (combined) demand equation for good Z, assuming it is a public good. Make sure to show all your work. Suppose that Florian's demand for good "Z" is QDElaria, = 24 - 3P and Sara's demand is Qp Sara = 32 - 4P. b) Draw each demand curve on the same graph. (Q on the horizontal axis and P on the vertical axis.) Do not forget to include the value of the intercepts on the vertical and horizontal axes for each curve. Label Florian's demand curve "Florian" and Sara's demand curve "Sara". c) Derive the market (combined) demand equation for good Z, assuming it is a private good. Make sure to show all your work. d) Derive the market (combined) demand equation for good Z, assuming it is a public good. Make sure to show all your work.
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Answer rating: 100% (QA)
dernand good Oo 243P Florians demand O2324P Sams demand When PEo 024 3D ... View the full answer
Related Book For
Macroeconomics Principles and Applications
ISBN: 978-1133265238
5th edition
Authors: Robert e. hall, marc Lieberman
Posted Date:
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