Ask your own question, for FREE!
Economics - Financial Markets 21 Online
OpenStudy (abb0t):

Economics

OpenStudy (abb0t):

@uri Suppose that Uri and dumbsearch2 are a couple. They're the only people in this family. Dumbsearch2's inverse demand curve for lettuce-made shoes is \(P = 5-\frac{1}{2}Q_b\). Uri's inverse demand curve for lettuce-made shoes is \(P=10-2Q_a\). What is this family's demand function for lettuce-made shoes. Calculate this families consumption of lettuce-made shoes when the price is 4 and 6.

OpenStudy (uri):

Micro economics :o

OpenStudy (abb0t):

yes

OpenStudy (uri):

This question is hard....never studied it.

OpenStudy (uri):

Tell me how we do it.

OpenStudy (abb0t):

What does that look like?

OpenStudy (abb0t):

y = mx+b ??

OpenStudy (abb0t):

am i right?

OpenStudy (uri):

Slope?

OpenStudy (abb0t):

yes

OpenStudy (uri):

It looks like dat..okay then..just it's a subraction sign in between.

OpenStudy (abb0t):

less than.

OpenStudy (uri):

Oh..

OpenStudy (uri):

It's 4 am.jeez.

OpenStudy (abb0t):

anyways, answer(s) are 5 lettuce-made shoes when P = 4 and 2 lettuce made shoes when P = 6

OpenStudy (uri):

LOOOOOOOOOL.

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!