Exhibit 6-20
-Refer to Exhibit 6-20. 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:
A) 150
B) 120
C) 90
D) 60
E) 30

Question

Exhibit 6-20 
-Refer to Exhibit 6-20. 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:
A) 150 
B) 120 
C) 90 
D) 60 
E) 30

Quizplus · Accepted Answer

The market quantity demanded is the sum of the individual quantities demanded at a given price. At a price of $15, consumer D demands 60 units, consumer D' demands 30 units, and consumer D'' demands 60 units. Therefore, the market quantity demanded is 60 + 30 + 60 = 150 units.

Exhibit 6-20 -Refer to Exhibit 6-20. If D, D' and D'' Represents