Answer to Question #280566 in Microeconomics for Stephany Stuart

Question

Kim and Raj have been married for a very long time but they have "coffee issues." Kim's invese deman curve for cups of coffee is  = 10 - 2q while Raj's inverse demand curve for cups of coffee is  = 5 - q. What is their joint demand for coffee when the price per cup of coffee is $4 and $6, per cup, respectively?

Answer 1

The joint demand will be the addition of quantity of coffee demanded by both

Quantity demanded by Kim;

$P=10-2q$

$4=10-2q$

$2q=6$

$q=3$

Quantity demanded by Raj;

$P=5-q$

$6=5-q$

$q=-1$

When q is negative,we assume it's zero

Therefore the joint demand will be;

Joint demand$=3+0=3$