The market demand curve shows
a. the effect of advertising expenditures on the market price of a good.
b. the marginal cost of producing and selling different quantities of a good.
c. the effect on market supply of a change in the demand for a good or service.
d. the quantity of a good that consumers would like to purchase at different prices.
Answer: d. the quantity of a good that consumers would like to purchase at different prices.
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A service like CARFAX, which provides a used car buyer with the complete history of a used car, is profitable because of the problem of moral hazard
a. True b. False
A shift from S1 to S2 reflects the change that happens when a negative externality is taken into account. A shift from D1 to D2 reflects the change that happens when a positive externality is taken into account.Refer to the above figures. Which of the panels would be consistent with the situation in which external costs exist?
A. Panel 1 B. Panel 2 C. Panels 1 and 2 D. neither panel