Calculate the market demand function

Assignment Help Business Economics

Reference no: EM13818256

For each set of individual demand functions, calculate the market demand function and draw both the individuals' and market demand on 1 graph.

a) 300 people, each has demand function P = -15x + 90. (Note: you need only graph 1 individual demand and the market demand)

b) 2 people: person 1 has demand x = -P + 75, person 2 has demand x = -3P + 135.

Reference no: EM13818256

Questions Cloud

The labor demand curve-opportunity cost of leisure : The opportunity cost of leisure: The elasticity of labor demand is higher when: The labor demand curve:

Project performance and status report : Prepare an 8-10-page report in Word. This report should include a project history of your recent Trillo Apparel Company District 4 Production Warehouse Move experience

Compute break-even point for the given sales mix : For the original estimates, compute each of the following: Break-even point for the given sales mix. Margin of safety for the estimated sales volume

Find the short run equilibrium price-market quantity : There is currently 20 identical firms in a perfectly competitive market. Each firm has a cost function of the form: SC(q) = 10q2 +200q + 7000. The market demand is P = -4QD + 3000. Find the short run equilibrium price, market quantity, and firm quant..

Calculate the market demand function : For each set of individual demand functions, calculate the market demand function and draw both the individuals' and market demand on 1 graph.

What is the required monthly leasing cost-monthly lease : An office building should last 60 years, but this owner will sell it at 20 years for 40% of its construction cost. For the first 20 years it can be leased as Class A space, which is all this owner operates. When the building is sold, the land’s cost ..

Application on the legislative process and veto power : Application on The Legislative Process and Veto Power

Discuss budgeting implications-different option strategies : In this assignment, you are to discuss the budgeting implications of different option strategies and the cost-benefit issues associated with such decisions.

The future of health care and the future of the organization : Determine two (2) specific internal factors that the organization's leaders need to consider in preparing for the future of health care and the future of the organization. Provide a rationale for your decision.

User Account

All Pages