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Suppose the market was made up of two demanders Demander 1 has a demand function given by

Suppose the market was made up of two demanders. Demander 1 has a demand function given by: qD = 10 - 5P. Demander 2 has a demand function given by: qD = 80 - 20P. The horizontal summation of these two demand functions will, when graphed, have a kink (point where the slope changes). Determine the price associated with the kink in the total demand function. (Do not include a dollar sign in your response. Round to the nearest 2 decimal places if necessary.)

Apr 29 2020 View more View Less

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