We are given the individual demand curves for all of the people that consume Good Y. Which statement is TRUE about the market demand curve for Good Y?
A) The market demand curve is obtained by horizontally summing the individual demand curves.
B) The market demand curve is obtained by vertically summing the individual demand curves.
C) The market demand curve cannot be obtained because information on prices is missing.
D) The market demand curve cannot be obtained from individual demand curves.
A
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During the last decade, the price of a computer fell every year and the quantity sold increased every year. This experience suggests that the
A) "law of demand" was definitely contradicted. B) "law of supply" was definitely contradicted. C) demand curve shifted rightward. D) supply curve shifted rightward.
In the above table, which tax plan is proportional?
A) only plan A B) only plan B C) only plan C D) both plan A and plan C