The market demand curve for mangos is
A) upward sloping because rich people can afford more mangos than poor people can buy.
B) the same as the demand curve of one buyer in a market with many buyers.
C) the horizontal sum of the individual demand curves of all the buyers.
D) the vertical sum of the individual demand curves of all the buyers.
E) the horizontal average of the individual demand curves of all the buyers.
C
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More bidders would tend to increase the selling price at an oral auction if
a. bidders bid less aggressively b. the true value of the winner is higher c. the true values of the losers is higher d. Both A&C
Diseconomies of scale exist for all of the following reasons except:
a. bureaucratic inefficiencies. b. management problems. c. failures in information flows. d. firm size is too small. e. organizational problems.