Graphically, a market demand curve is found by
A) taking the average of all prices that people are willing to pay.
B) summing the quantities demanded by all individuals at each price.
C) summing the prices each consumer would pay for each quantity.
D) taking the average of the individual demand curves.
B
You might also like to view...
Increasing the income tax rate ________ the ________
A) does not change; supply of labor B) decreases; supply of labor C) increases; supply of labor D) decreases; demand for labor E) increases; demand for labor
Rational ignorance means
A) ignorance is rationed. B) the benefit from some information is not worth the cost of collecting it. C) some people do not understand rationality. D) the information is unavailable.
Which of the following will likely have the strongest demand for large expenditures on environmental quality?
a. wealthy countries b. poor countries c. countries with air pollution problems d. countries with water pollution problems
If real GDP is higher in one country than in another, then we can be sure that the standard of living is higher in the country with the higher real GDP
a. True b. False Indicate whether the statement is true or false