The market demand curve for a particular good
A) is the horizontal sum of all individual demand curves for the good.
B) may be less than an individual demand curve for the good.
C) may or may not show a direct relationship between price and quantity demanded.
D) will not be affected by any of the determinants of individual demand.
Answer: A
You might also like to view...
Which of the following is a reason why Fed policy might be ineffective?
A. The wealth effect B. Crowding out C. The liquidity trap D. The foreign substitution effect
Alice is willing to pay $3 for the second slice of pizza she eats. The price she pays is $2. Alice's consumer surplus for this slice of pizza equals
A) $0. B) $1. C) $2. D) $3.
Define the tragedy of the commons. Give three examples of common resources. Briefly explain why common property resources are subject to overuse
What will be an ideal response?
Goods that are neither rival in consumption nor excludable are:
A. a common resource. B. a private good. C. a public good. D. an artificially scarce good.