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September 21st, 2017, 01:35 PM  #1 
Newbie Joined: Sep 2017 From: Latvia/Denmark Posts: 21 Thanks: 0  Demand function
How... just... how :/ I cannot find the answers to both of them.
Last edited by greg1313; September 21st, 2017 at 03:26 PM. 
September 25th, 2017, 06:32 AM  #2 
Newbie Joined: Sep 2017 From: Latvia/Denmark Posts: 21 Thanks: 0 
bump..

September 25th, 2017, 07:36 AM  #3 
Senior Member Joined: May 2016 From: USA Posts: 1,305 Thanks: 548 
Please write the problem out so I can see it.

September 26th, 2017, 02:22 AM  #4 
Newbie Joined: Sep 2017 From: Latvia/Denmark Posts: 21 Thanks: 0  
September 26th, 2017, 07:24 AM  #5 
Senior Member Joined: May 2016 From: USA Posts: 1,305 Thanks: 548 
This is a trick question in my opinion. Usually, demand curves are defined to be nonnegative, and prices are to be defined as positive. So $0 < p < 8 \implies q_1(p) = 8  p;\ \text { and } p\ge 8 \implies q_1(p) = 0.$ $0 < p < 12 \implies q_2(p) = 6  0.5p;\ \text { and } p\ge 12 \implies q_2(p) = 0.$ A common (though not universal) assumption in theoretical economics is that the total demand function is simply the sum of the individual demand curves. $\text {total demand} = t(p) = q_1(p) + q_2(p) \implies$ $0 < p < 8 \implies t(p) = 14  1.5p;\ 8 \le p < 12 \implies t(p) = 6  0.5p;\ \text { and } p \ge 12 \implies t(p) = 0.$ $\therefore \ t(9) = 6  4.5 = 1.50.$ $t(7) = 14  1.5p = 14  10.5 = 3.50.$ 

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