Suppose demand and supply for food is given by 100 - 6P = Qd : Demand...

Question

Question

Suppose demand and supply for food is given by

100 - 6P = Qd : Demand Curve

Qs = 28 + 3P : Supply Curve

∃p = p* ∋qd = qs = q*

What is the (marginal) willingness to pay for the 30th unit? What is the marginal additional cost for the 30th unit? Show on two separate graphs.

Answer 1

Answer #1

Answer 2

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