When creating market demand curves for privately produced and privately consumed goods, we must

Question

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To create a market demand curve, we need to add up the quantity demanded at each price point. This will give us an overall view of the demand for the product in the market. Adding up the price paid at each quantity would give us the total revenue generated by the product, but this is not the same as the demand curve. Similarly, taking an average of either the quantity demanded or price paid would not give us an accurate representation of the market demand.

When Creating Market Demand Curves for Privately Produced and Privately