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प्रश्न
How is the market demand curve derived from the individual demand curves?
With the help of a diagram, show how a market demand curve can be obtained from individual demand curves.
उत्तर
The horizontal summation of individual demand curves yields the market demand curve.
In the diagram, DA and DB are two demand curves of A and B, respectively. Supposing that there are two individuals in the market, the market demand curve DM has been derived by taking their horizontal sum. Which means the sum of the quantity demanded, not the price.
संबंधित प्रश्न
Demand curve of a good shifts from DD' to Demand dd'. This shift can be caused by:
The diagram given below shows the original demand curve (DD) for good X, which is a complement of good Y:
If there is a rise in the price of good Y, which demand curve for good X is relevant?
The market demand curve is a ______ summation of all individual demand curves.
Differentiate between individual demand schedule and market demand schedule.
State the impact of the following changes on the demand curve of a commodity:
A rise in the price of the commodity
State the impact of the following changes on the demand curve of a commodity:
Increase in the supply of a substitute commodity
Briefly explain any three determinants for the negative slope of the demand curve.
Explain the diagram given below.
Define a market demand schedule.
What is a demand schedule?
