There are two person in the cmmunity. Jack who has demand given as Pj=20-0.25qj and Mary demand given as Pm = 35-0.4qm. if the MC =15 Draw the two demand curves and market demand curves in the same graph Find the efficient market allocation Estimate the efficient price and determine the free riding.

There are two person in the cmmunity. Jack who has demand given as Pj=20-0.25qj and Mary demand given as Pm = 35-0.4qm. if the MC =15 Draw the two demand curves and market demand curves in the same graph Find the efficient market allocation Estimate the efficient price and determine the free riding.

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter5: Consumer Choice: Individual And Market Demand

Section: Chapter Questions

Problem 6TY

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