Question

There are two types of consumers of movies at home. The first type of consumer is impatient and wants to see the latest films as soon as they are available for streaming or on DVD. The second type of consumer is more patient and is happy to watch any movies that have been released in the past few years. Demand for the first type of consumer is given by the function D(p) = 16 – . Demand for the second type of consumer is D(p) = 16 - p. V 2nd attempt Part 1 (1 point) D See Hint On the graph below, use the straight-line tool to draw the inverse demand curves for each type of consumer. To refer to the graphing tutorial for this question type, please click here.

Answer 1

First Type consumer D(P)2 169/ Second Type Consumer DUP)2 16 - P. Price 32t first type consumes {D(P) = 16-P/} la Second type consumer {D(P) 216-P} Quantity

# 100 consumes of each type for Price , 16 , there is demand the only from first type of consumer . so Market demand for D3,16 given by Dista Leo QM2 100 b (P) first type 2 100 (16-P/2) [ Qu 2 1600-500 for P< 16, the demand is from both type of consumer so Que De firsttype + ?(P) second type - 16016 - Ps) + 100 (16 - P) TQM 23200 - 150pl Market dorond demand can be given by 8 1600- sop PS, 16 1 3200 - 150 P P <16 Ics Scanned with CamScanner

Price 11 32 ton demand Cance - You Market - - < 800 3200 Quantity Scanned with CamScanner