We can derive the market demand curve for gold earrings
A) only if the tastes of all gold earring consumers are similar.
B) by adding horizontally the individual demand curves of each gold earring consumer.
C) by adding vertically the quantity demanded of each gold earring consumed at each price.
D) by adding the prices each gold earring consumer is willing to pay for each quantity.
Answer: B
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In terms of the aggregate demand and aggregate supply framework, the Great Depression can be viewed as a: a. rightward shift of the aggregate demand curve
b. rightward shift of the aggregate supply curve. c. downward movement along the aggregate demand curve. d. a leftward shift of the aggregate demand curve. e. a leftward shift of the aggregate supply curve.
Suppose Woody's Cabinetmaking calculates the following information for each cabinet produced in a given month: P = $300; Q = 100; AFC = $10; AVC = $140 . Woody's total profit for that month is
a. $140 b. $150 c. $15,000 d. $30,000 e. impossible to determine