NARRBEGIN: Exhibit 6-17
Exhibit 6-17

-Refer to exhibit 6-17. If D, D' and D'' represents the demand curves for the only three consumers in a market, then the market quantity demanded at a price of $15 will be:

Question

NARRBEGIN: Exhibit 6-17
Exhibit 6-17
 
-Refer to exhibit 6-17. If D, D' and D'' represents the demand curves for the only three consumers in a market, then the market quantity demanded at a price of $15 will be:

Quizplus · Accepted Answer

The market quantity demanded is the sum of the quantities demanded by each consumer at a given price. At a price of $15, consumer D demands 60 units, consumer D' demands 30 units, and consumer D'' demands 30 units. Therefore, the market quantity demanded is 60 + 30 + 30 = 120 units.

NARRBEGIN: Exhibit 6-17 Exhibit 6-17