« previous next »

Author Question: Suppose there are 100 consumers with identical individual demand curves. When the price of a movie ... (Read 71 times)

captainjonesify

  • Hero Member
  • *****
  • Posts: 543
on: Jun 30, 2018
Suppose there are 100 consumers with identical individual demand curves. When the price of a movie ticket is 8, the quantity demanded for each person is 5 . When the price is 4, the quantity demanded for each person is 9 . Assuming the law of demand holds, which of the following choices is the most likely quantity demanded in the market when the price is 6?
 a. 700
  b. 1,200
  c. 400
  d. 1,000
  e. 100

Question 2

We can find the market demand for pears by:
 a. adding up all the prices people are willing to pay for pears.
  b. multiplying the number of people times the price of pears.
  c. adding up the number of pears that producers are willing to sell.
  d. multiplying the number of pears by the price of pears.
  e. adding up all the individual demand curves for pears.


C.mcnichol98

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

e


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

The Rotation Curves of Four Spiral Galaxies The Rotation Curves of Four Spiral Galaxies
Vertebral regions showing the four spinal curves. Vertebral regions showing the four spinal curves.
Sequencing a large chromosome by individual sequence determination of cloned fragments in sequences Sequencing a large chromosome by individual sequence determination of cloned fragments in sequences
Economic recession in 2008 saw a small decrease in demand Economic recession in 2008 saw a small decrease in demand
Two Kinds of Forgetting Curves Two Kinds of Forgetting Curves
The original Supply and Demand graph The original Supply and Demand graph
Video: Cardiac Cycle (Part 3 of 4)

For a complete list of videos, visit our video library