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What is the equation of the demand curve

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Reference no: EM132648864

Consider a competitive market with the following equations of demand (D) and supply (S). D0: P = 60 - ½Qd S0: P = 20 + ½Qs

a) If this market has 1,000 consumers with identical individual demand curve, what is the equation of the demand curve of each of these consumers? [Hint: Denote the quantity demanded by each consumer by qd.]

Reference no: EM132648864

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