Equilibrium price-amount bought-sold when individual demand

Reference no: EM13692561

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.

Reference no: EM13692561

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