2. When trying to assess differences in her customers, Claire – the owner of Claire's Rose Boutique – noticed a difference in the typicaldemand of her female versus her male customers. In particular, she found her female customers to be more price sensitive in general.After conducting some sales analysis, she determined that her female customers have the following demand curve for roses: QF = 25- 3.00 x P. Here, QF is the quantity of roses demanded by a female customer, and Pis the price charged per rose. She determinedthat her male customers have the following demand curve for roses: QM = 30 – 2.00 x P. Here, QM is the quantity of roses demandedby a male customer. If two unaffiliated customers walk into her boutique, one male and one female, determine the demand curve forthese two customers combined (i.e., what is their aggregate demand?). (Note: Q represents total, or aggregate, demand.)

Given: Female demand curve: QF=25-3P Male demand curve: QM=30-2P

Answered: When trying to assess differences in…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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