By summing the quantities demanded by individuals at each price we obtain the
A) equilibrium price.
B) market demand curve.
C) market supply curve.
D) individual demand curve.

Question

Quizplus · Accepted Answer

Summing the quantities demanded by individuals at each price gives us the total demand for a good or service in the market, which is represented by the market demand curve. Therefore, the correct option is B. The equilibrium price is the point where the market demand and market supply curves intersect, and it cannot be determined solely by summing the quantities demanded by individuals. The market supply curve represents the total quantity of a good or service that suppliers are willing to provide at various prices, which is different from the demand curve. Individual demand curves represent the quantity of a good or service that a single consumer is willing and able to buy at different prices.

By Summing the Quantities Demanded by Individuals at Each Price