What is the market demand equation
Question: A market consists of two individuals. Their demand equations are Q1 = 16-4P and Q2 = 20-2P respectively.
a. What is the market demand equation?
b. At a price of $2, what is the point price elasticity for each person and for the market?
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Their demand equations are Q1 = 16-4P and Q2 = 20-2P respectively. a. What is the market demand equation?
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a. Over what range of sales is demand elastic?
What is the elasticity of production for capital? Explain your answer.
Discuss your previous knowledge about this content and how it supports, or does not support, the things you read about for which you had no previous knowledge.
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