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 64 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 first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Periodic Table Periodic Table
This label on a Toyota Camry hybrid shows the relative smog-producing emissions, but this does not ... This label on a Toyota Camry hybrid shows the relative smog-producing emissions, but this does not ...
With the arm placed on the table, apply effleurage over the entire upper limb as a reconnecting and ... With the arm placed on the table, apply effleurage over the entire upper limb as a reconnecting and ...
Apply effleurage and direct pressure on attachments of pectoralis minor. Lift one arm off the table ... Apply effleurage and direct pressure on attachments of pectoralis minor. Lift one arm off the table ...
According to Table 17.1, which will reduce water but not Mg2+? According to Table 17.1, which will reduce water but not Mg2+?
8.The following table contains DNA-sequence information compiled by Marilyn Kozak (1987). The ... 8.The following table contains DNA-sequence information compiled by Marilyn Kozak (1987). The ...
Video: Energy sources - types

For a complete list of videos, visit our video library