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Figure 5.21
-(Figure 5.21) Suppose Milli and Vanilli are the only two customers in the market for voice lessons. Milli's demand is Q_M = 40 - 4P, and Vanilli's demand is Q_V = 75 - 5P. Which panel represents the market demand for vocal lessons?

Question

Use the following to answer question:
Figure 5.21

-(Figure 5.21) Suppose Milli and Vanilli are the only two customers in the market for voice lessons. Milli's demand is Q_M = 40 - 4P, and Vanilli's demand is Q_V = 75 - 5P. Which panel represents the market demand for vocal lessons?

Quizplus · Accepted Answer

The market demand for vocal lessons is the sum of the individual demands of Milli and Vanilli. Therefore, the panel that shows the sum of Q_M and Q_V is panel (b), which represents QD1U1B0 = Q_M + Q_V = (40 - 4P) + (75 - 5P) = 115 - 9P.

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