Introduction to Economics 1 Deneme Sınavı Sorusu #725862
Assume that the coffee market consists of three individuals. Let’s call them A, B and C. Consider the case in which the price of coffee PT is 5 TL per cup. Individual A’s quantity demanded is 3 cups, individual B’s quantity demanded is 2 cup, and individual C’s quantity demanded is 4 cups. Which of the following gives the quantity demanded for PT = 5 TL?
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2 |
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3 |
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5 |
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7 |
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9 |
The price of coffee PT is 5 TL per cup. Individual A’s quantity demanded is 3 cups, individual B’s quantity demanded is 2 cups, and individual C’s quantity demanded is 4 cups. Summing up all the quantities demanded at the price of 4 TL, we arrive at the quantity demanded (9 cups) for PT = 5 TL in the market. Replicating the procedure for all prices, we derive the market demand curve for the market. The market demand is the sum of individual demands. The correct answer is Choice E.
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