Answer to Question #126356 in Microeconomics for Abdulaziz

Question

The market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollars per cup and Qi is the number of cups demanded per week by the ith consumer. Find the market demand curve. What is the quantity demanded by each consumer and in the market as a whole when lemon is priced at p=$1/cup?

Answer 1

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