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Author Question: Explain how a market demand curve is constructed. What will be an ideal ... (Read 84 times)

tiffannnnyyyyyy

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on: Jun 29, 2018
Explain how a market demand curve is constructed.
 
  What will be an ideal response?

Question 2

A decrease in demand and an increase in supply will lead to
 
  A) unambiguous increases in both price and quantity.
  B) unambiguous decreases in both price and quantity.
  C) an unambiguous decrease in price, but the effect on quantity is indeterminate.
  D) an unambiguous decrease in quantity, but the effect on price is indeterminate.


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rnehls

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The market demand curve is the horizontal summation of the individual demand curves. A price is selected, and the quantities demanded of each person at that price are summed. Then another price is selected and the quantities demanded of each person at that price are summed. Continue doing this for other prices until the market demand curve is traced out.

Answer to Question 2

C


tiffannnnyyyyyy

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

patma1981

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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