There are 100 consumers in the market for good X, each with a demand curve given by Q = 2/P. What is the market demand curve for good X?

Name: There are 100 consumers in the market for good X, each with a demand curve given by Q = 2/P. What is the market demand curve for good X?
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Question

Quizplus · Accepted Answer

The market demand curve is found by horizontally summing the individual demand curves. Since each of the 100 consumers has a demand curve of Q = 2/P, the market demand curve would be 100 times that, or Q = 200/P.

There Are 100 Consumers in the Market for Good X