Hi everyone in this video I go through the simplest sort of case that you will find when we’re horizontally summating individual demand to find market demand - when the price axis intercepts of the demand curves of our individual consumers are equal.

0:00 Intro
0:27 Introducing the two consumers and drawing the two individual curves
2:49 Drawing Market Demand
4:45 Finding Market Demand Algebraically
7:35 Testing the calculations

Other Videos
Part 1 The more complicated case: [ Ссылка ]
Part 2 The more complicated case: [ Ссылка ]

Note: I kind of messed up with the notation. When I note Qd(P), it's called functional notation, and I just write it like that either when I want to reference the entire function, but also to drill in the idea that we are thinking about Quantity demanded as a function of the price. We often don't write functions this way, but sometimes we do. It's particularly useful to write it like this when horizontally summating because of the emphasis that quantity is modelled as a function of price, and that’s how we need to add it up. But... I didn't use that notation when I wrote out consumer 1 and consumer 2's individual demand functions, so... I hope that doesn't confuse you.

Sometimes it's only when I see the finished product that in my head I'm like.. "oh no! that was a bad choice!"... and I'd already spent just so long on the video so I'm publishing anyway, you can let me know in the comments how grave an error this was.

xxx Mon

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