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# Suppose there are two demanders, Curtis and Marilyn, of oranges in the market for oranges. The equation below gives Curtis's demand curve for oranges. Assume that Marilyn's demand curve for oranges

Suppose there are two demanders, Curtis and Marilyn, of oranges in the market for oranges. The equation below gives Curtis's demand curve for oranges. Assume that Marilyn's demand curve for oranges is identical to Curtis's demand curve for oranges: P=5 - 1/2 What is the market demand for oranges in this market if Curtis and Marilyn are the only consumers of oranges? (You can answer either as a fraction or decimal. If you answer in decimals, round off your answer up to 2 decimal places.) The aggregate (market) demand is P=b+mQ Intercept (b) Slope (m)
Question 8 (1 point) Consider the market for bananas. The demand curve and supply curves are given by Demand: P = 10 - (1/3)Q Supply: P = Q + 2 The equilibrium price is \$ The equilibrium quantity is Question 9 (1 point) Consider the market for oil. The demand curve and supply curves are given by Demand: P = 44 - 6Q Supply: P = Q + 2 The equilibrium price is \$ The equilibrium quantity is

Apr 12 2021 View more View Less

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