Demand function for ice cream cones

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Reference no: EM13914291

Juan’s demand function for ice cream cones is QdJuan = 20−5P at prices below $4, and zero at prices above $4. Emily’s demand function is QdEmily = 6 − 2P at prices below $3, and zero at prices above $3.

(a) What is the market demand function?

(b) Graph the individual and market demand curves.

The supply function of each firm that makes fudge brownies is Qs = 100P − 50 at prices above $0.50, and zero at prices below $0.50.

(a) Suppose there are 50 brownie manufacturers. What is the supply function for brownies?

(b) Suppose there are 100 brownie manufacturers. What is the supply function for brownies?

Reference no: EM13914291

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