There are only three consumers in the market, and their demand equations are as follows: (1) Q = 5 - 0.5P, (2) Q = 10 - P, and (3) Q = 2 - 0.2P. What is the equation for the market demand curve?

Question

Quizplus · Accepted Answer

To find the market demand curve, sum the individual demand equations: (1) Q = 5 - 0.5P, (2) Q = 10 - P, and (3) Q = 2 - 0.2P. Adding these together gives Q = 17 - 1.7P, which matches option C.

There Are Only Three Consumers in the Market, and Their