explain why an individual’s demand curve for Truffles is different from the market demand curve for Truffles. Which curve is likely to be more price elastic?
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The market demand curve for heroin is said to be highly inelastic. Heroin supply is also said to be monopolized by the Mafia, which we assume to be interested in maximizing profits. Are these two statements consistent? | Numerade
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Suppose that the market demand curve for pasta is a straight line of the form Q=300-50 P where Q is the quantity of pasta bought in thousands of boxes per week and P is the price per box (in dollars). a. At what price does the demand for pasta go to 0 ? Develop a numerical example to show that the demand for pasta is elastic at this point. b. How much pasta is demanded at a price of 0 ? Develop a numerical example to show that demand is inelastic at this point. c. How much pasta is demanded at
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