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.
d
You might also like to view...
If the potential money multiplier in the U.S. is 4, then a $2,000 increase in demand deposits when banks hold excess reserves will result in which of the following?
a. the money supply will decrease by $8,000 b. the money supply will remain unchanged because the excess reserves will cancel out the potential loans c. the money supply will increase by $8,000 d. the money supply will increase by more than $8,000 e. the money supply, if it increases at all, will increase by less than $8,000
Which of the following is an example of a monopoly?
A.) One large firm supplies the entire product to the market B.) One firm supplies 60 percent of the product to the market and there are two other rival firms C.) Many firms supply the same product essentially, but each has significant brand loyalty D.) A few large firms supply the entire product to the market