Suppose that the inverse demand function (where the demand curve is rearranged so that price is a function of quantity) for movies is p = 120 - Q1 for college students and p = 120 - 2Q2 for other town residents. What is the town's total demand function (Q = Q1 + Q2 as a function of p)? Use a

Chapter 2, Section 1.1 #2

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Suppose that the inverse demand function (where the demand curve is rearranged so that price is a function of quantity) for movies is p = 120 - Q1 for college students and p = 120 - 2Q2 for other town residents. What is the town's total demand function (Q = Q1 + Q2 as a function of p)? Use a diagram to illustrate your answer. (By looking at your diagram, you'll see that the total demand function has a kink, so care must be used in writing the total demand function.)
Related Book For answer-question

Microeconomics Theory and Applications with Calculus

3rd edition

Authors: Jeffrey M. Perloff

ISBN: 978-0133019933