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What is the market demand equation

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Reference no: EM13670111

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? 

Reference no: EM13670111

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