Question: Suppose the demand for applicatio... = = Suppose the demand for applications at Google Play is given by QG = 1.4p^(-3.7) and the demand for

Suppose the demand for applicatio... = = Suppose

Suppose the demand for applicatio... = = Suppose the demand for applications at Google Play is given by QG = 1.4p^(-3.7) and the demand for applications at the Apple App Store is QA = 1.4p^(-2). (Quantities are in millions) a. The demand curves cross. What is the price and quantity at which they cross? of demand for each demand where they cross? Derive your answer. c. Assuming current price at Google Play and the Apple App Store are the price you find in part a. Would a decrease in supply result in higher increase in prices on Google Play or Apple Store? Explain

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