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spruckj spruckj
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Posts: 435
5 years ago

Question 1.

A demand curve represents a(n)

• direct relationship between price and demand.

• indirect or inverse relationship between price and supply.

• indirect or inverse relationship between price and quantity demanded.

• direct relationship between price and quantity demanded.

Question 2.

We are given the individual demand curves for all of the people that consume ice cream. Which statement is TRUE about the market demand curve for ice cream?

• The market demand curve is obtained by horizontally summing the individual demand curves.

• The market demand curve is obtained by vertically summing the individual demand curves.

• The market demand curve cannot be obtained from individual demand curves.

• The market demand curve cannot be obtained because information on prices is missing.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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Answer verified by a subject expert
christinaalexchristinaalex
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Posts: 393
5 years ago
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spruckj Author
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5 years ago
This calls for a celebration Person Raising Both Hands in Celebration
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