Suppose that there are only three consumers of a product. At a price of $3 per unit, the first consumer would buy 6 units of the product, the second consumer would buy 5 units, and the third consumer would buy 7 units of the product. If you drew a market demand curve for this product, the quantity demanded at a price of $3 would be:

Question

Quizplus · Accepted Answer

The market demand at a price of $3 is the sum of the quantities demanded by all consumers: 6 + 5 + 7 = 18 units.

Suppose That There Are Only Three Consumers of a Product