Suppose the market for a good is composed of 1,000 identical consumers. The market's demand curve is given by QM = 150,000 – 25P. What is the equation for an individual consumer's demand curve?

Q = 150 - 0.025.

Explanation:

Given that

Number of identical consumers = 1,000

Market demand curve is given by

QM = 150,000 - 25P

Based on the above information.

The equation for an individual demand curve is shown below:

As we know that the market demand is the total of an individual demand. So, the 1,000 identical demand function would be there and also we have to divide the market demand curve by  $1,000 to find out the individual demand curve

So,

Q = 150 - 0.025 as (150,000 – 25P) ÷ 1000

Q = 150 - 0.025.

answer; marketing resource management;