Kari and Hector both are interested in buying pizza slices for lunch. Kari's inverse demand for pizza slices is given by P = 250 – (4)Q, where Pis the price of a pizza slice (in cents) and Q is the number of slices. Hector's inverse demand is given by P = 150 – ()Q. Suppose that Kari and Hector are the only two consumers in the market for pizza slices. Assuming that both Kari and Hector are consuming some pizza each, which of the following functions describes the relevant portion of the market demand curve? Choose one: A. Q = 400 - (4 + 10)P B. P = 400 +(- 4+10 C. P = 400Q (4+10) O D. Q = 2, 500 – (4 + 10)P
Kari and Hector both are interested in buying pizza slices for lunch. Kari's inverse demand for pizza slices is given by P = 250 – (4)Q, where Pis the price of a pizza slice (in cents) and Q is the number of slices. Hector's inverse demand is given by P = 150 – ()Q. Suppose that Kari and Hector are the only two consumers in the market for pizza slices. Assuming that both Kari and Hector are consuming some pizza each, which of the following functions describes the relevant portion of the market demand curve? Choose one: A. Q = 400 - (4 + 10)P B. P = 400 +(- 4+10 C. P = 400Q (4+10) O D. Q = 2, 500 – (4 + 10)P
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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