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Satsume Satsume
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6 years ago
The market supply curve of rubber erasers is given by QS = 35,000 + 2,000P.   The demand for rubber erasers can be segmented into two components.  The first component is the demand for rubber erasers by art students.  This demand is given by qA = 17,000 - 250P.  The second component is the demand for rubber erasers by all others.  This demand is given by qO = 25,000 - 2000P.  Derive the total market demand curve for rubber erasers.  Find the equilibrium market price and quantity.  Also, determine the consumer surplus for each component of demand.
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Microeconomics

Microeconomics


Edition: 8th
Author:
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boransalboransal
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#2
3 years ago
Thank you!
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3 years ago
thank you
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