Question

In: Economics

Matt and Sally are two entrepreneurs who have formed an LLC they each have a demand...

Matt and Sally are two entrepreneurs who have formed an LLC they each have a demand for books in the form of:

QS( p ) = 30 - 3 p

QM( p ) = 39 - 3 p

How many books are demanded at the point in which the second consumer enters the market?

Solutions

Expert Solution

30-p=39-3p

-p+3p=39-30

3p=9

p=9/3

P=3

QS( p ) =30-3(3)

=30-9

= 21

QM( p ) = 39 - 3(3)

=39-9

=30

  

Rahul Sunny answered 2 years ago
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