Definition of a Demand Curve?
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03-24-2014, 11:08 AM
Post: #1
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Definition of a Demand Curve?
All of the following apply to the definition of a demand curve EXCEPT:
A. Market demand is the sum of individual demand curves B. Individual demand curves reflect individual or private benefits C. Market demand reflects social costs D. Market demand reflects private benefits My gut wants to say C because demand usually defines the benefits of a good/service not the cost, that would be supply. But, D makes me wonder, Market Demand doesn't seem like it would describe a private benefit because it is the "Market" not the individual demand... Ads |
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Definition of a Demand Curve? - James - 03-24-2014 11:08 AM
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