What are the equilibrium price and amount bought and sold, Ask an Expert

Economics

What are the equilibrium price and amount bought and sold when individual demand and supply are as in the following example:

Juan's demand function for ice cream cones is Q=10-2.5P at prices below $4 and zero at prices above $4. Emily's demand function is Q=6 -1.5P at prices below $4 and zero at prices above $4.

Anitra's supply function for ice cream cones is Q=6P-4 at prices above $0.67 and zero at prices below $0.67. Roberts Supply function is Q=4P-8 at prices above $2 and zero at prices below $2.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91232003

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