Answer to Question #143199 in Macroeconomics for Qiniso

Question

Demand schedules are given as follow
Derick: Qd=100-0.5p
Charles:Qd= 50-0.2p

What is the market demand schedule?

Answer 1

To get the market demand function, we have the right to add the demand functions of two:

Qd=100-0.5p+50-0.2P=150-0.7P

let's draw three graphs

red Qd = 100-0,5p

blue Qd = 50-0.2p

green Qd=150-0.7P