This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The following table shows the demand for notebooks of four consumers. Price (/unit) Consumer 1 ... (Read 57 times)

Destiiny22

  • Hero Member
  • *****
  • Posts: 557
on: Jun 30, 2018
The following table shows the demand for notebooks of four consumers.
 
  Price
  (/unit) Consumer 1
  Demand (units) Consumer 2 Demand (units) Consumer 3 Demand (units) Consumer 4 Demand (units)
  8 8 6 9 10
  6 16 10 15 18
  4 20 13 21 24
  1 22 17 24 27
 
  Define the term market demand. If these four consumers constitute the entire market, calculate the market demand for notebooks at 1, 4, 6, and 8.

Question 2

The advantage of using real GDP over nominal GDP is that:
 
  A) it can be compared over time.
  B) it takes into account the distribution of income.
  C) it takes into account changes in ruling political party.
  D) it is easier to calculate.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

meganlapinski

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 30, 2018
Answer to Question 1

The term market demand refers to the sum of the individual demands of all potential buyers in a market.
Market demand at 1 = 22 + 17 + 24 + 27 = 90 units
Market demand at 4 = 20 + 13 + 21 + 24 = 78 units
Market demand at 6 = 16 + 10 + 15 + 18 = 59 units
Market demand at 8 = 8 + 6 + 9 + 10 = 33 units

Answer to Question 2

A


Destiiny22

  • Hero Member
  • *****
  • Posts: 557
Reply #2 on: Jun 30, 2018
Thank you :)


meganlapinski

  • Sr. Member
  • ****
  • Posts: 333
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Adult neurogenesis. The top panel shows new cells in the dentate gyrus of the hippocampus—the cell ... Adult neurogenesis. The top panel shows new cells in the dentate gyrus of the hippocampus—the cell ...
Stretch anterior tissues by pressing down on shoulders. Stand at the head of the table. Place the ... Stretch anterior tissues by pressing down on shoulders. Stand at the head of the table. Place the ...
Assist recipient into side-lying position. Woman sits on edge of table holding drape to cover her ... Assist recipient into side-lying position. Woman sits on edge of table holding drape to cover her ...
If P(x,- 3/7) on the unit circle,x can be written as ± r sqrt s / t , r is ≠ 1. The value of ... If P(x,- 3/7) on the unit circle,x can be written as ± r sqrt s / t , r is ≠ 1. The value of ...
periodic table periodic table
table table
Video: Ionic bonds - role of ions in the body

For a complete list of videos, visit our video library