Author Question: A market demand curve is found by A) adding the prices each consumer would pay for each quantity. ... (Read 97 times)

acc299 · **on:** Jun 29, 2018

A market demand curve is found by

A) adding the prices each consumer would pay for each quantity.
B) adding the prices and the quantities demanded by a consumer.
C) adding the quantities demanded for each individual consumer at each price.
D) taking the demand curve of the representative consumer.

Question 2

A severe drought has devastated cocoa plants, causing an increase in the price of chocolate. In the market for chocolate chip cookies

A) a surplus will arise.
B) supply has decreased and price has increased.
C) quantity has decreased and price has decreased.
D) quantity demanded has increased.