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Author Question: The market demand curve is derived by: a. studying an individual's demand for a product over a ... (Read 82 times)

Kikoku

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on: Jun 30, 2018
The market demand curve is derived by:
 a. studying an individual's demand for a product over a year.
  b. comparing the monthly consumption of a group of people.
  c. surveying a set of consumers and ascertaining their preferences.
  d. adding up the quantities that consumers in a market are willing and able to purchase at each price.
  e. calculating the average price a random sample of consumers are willing to pay for a product.

Question 2

A market economy answers the question what goods will be produced by focusing on
 a. dollar votes.
 b. least-cost method of production.
  c. who can afford these goods.
 d. none of the above


vickyvicksss

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

a


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