« previous next »

Author Question: Suppose there are 100 consumers with identical individual demand curves. When the price of a movie ... (Read 53 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?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Titration curves for (a) glutamate and (b) histidine Titration curves for (a) glutamate and (b) histidine
The Rotation Curves of Four Spiral Galaxies The Rotation Curves of Four Spiral Galaxies
Firing Rate of Individual SCN Neurons in a Tissue Culture Color bars have been added to emphasize th Firing Rate of Individual SCN Neurons in a Tissue Culture Color bars have been added to emphasize th
Two Kinds of Forgetting Curves Two Kinds of Forgetting Curves
Mean Girls Movie Mean Girls Movie
Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a ... Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a ...
Video: B cells and antibodies

For a complete list of videos, visit our video library