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Derive the equations for the market demand function

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Reference no: EM131246302

Suppose that in the market for roses, there are only 2 consumers with different demand functions:

Jordan's demand function is QD = 20 - 2PJo Jo's demand function is QD = 48 - 6P

(a) Derive the equations for the market demand function. (Hint: You should have three expressions for market demand depending on the price).

(b) Draw the market demand curve for roses using your answer from Part (a).

Reference no: EM131246302

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