Diagrams A,B,and C show 3 individual consumers' demand curves for cement.Consumers A,B,and C constitute the entire monthly cement market in this region. FIGURE 6-3
-Refer to Figure 6-3.On the regional market demand curve for cement (not shown),at which price level(s)is there a "kink" in the demand curve?
A)$10
B)$20 and $30
C)$30 and $70
D)$40 and $70
E)$80

Question

Diagrams A,B,and C show 3 individual consumers' demand curves for cement.Consumers A,B,and C constitute the entire monthly cement market in this region.  FIGURE 6-3
-Refer to Figure 6-3.On the regional market demand curve for cement (not shown),at which price level(s)is there a "kink" in the demand curve?
A)$10 
B)$20 and $30 
C)$30 and $70 
D)$40 and $70 
E)$80

Quizplus · Accepted Answer

A "kink" in the demand curve typically occurs at price levels where there is a noticeable change in the slope of the curve, often due to changes in consumer behavior or market conditions. In this case, the kink is at $30 and $70.

Diagrams A,B,and C Show 3 Individual Consumers' Demand Curves for Cement.Consumers