The market for lemon has 10 potential consumers, each having an individual demand curve P …
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 i th consumer. Find the market demand curve using algebra. Draw an individual demand curve and 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?
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