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Makovka662 [10]
1 year ago
11

everyone's indiviaual demand for a particular good or service can be represented by the same demand curve

Mathematics
1 answer:
bija089 [108]1 year ago
5 0

The statement "everyone's individual demand for a particular good or service can be represented by the same demand curve " is false. Option B

This is further explained below.

<h3>What is the demand curve?</h3>

Generally, In the field of economics, a demand curve is a graph that illustrates the relationship between the price of a particular commodity and the quantity of that commodity that is demanded at that price. Specifically, the graph shows how the quantity of a commodity is affected by the price of the commodity.

Demand curves may be used to analyze the price-quantity connection for a single customer, or they can be used to analyze the relationship for all consumers in a certain market.

In conclusion, It is a fallacy to assert that "everyone's individual need for a given commodity or service can be represented by the same demand curve."

Read more about Demand curves

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Complete Question

Everyone's indiviaual demand for a particular good or service can be represented by the same demand curve

True or false

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Please please please please please answer A through D
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Answer:

A: Yes, As more gallons are used the longer the shower is

B: 5 minutes, 20 minutes

C: (30,10), someone who uses 30 gallons of water will be in the shower for 10 minutes

D: I'm going to assume that your teacher wants you to find the slope in which I will use the slope formula and the points (0,0) and (30,10)

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Step-by-step explanation:

A: Yes, As more gallons are used the longer the shower is

B: 5 minutes, 20 minutes

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D: I'm going to assume that your teacher wants you to find the slope in which I will use the slope formula and the points (0,0) and (30,10)

(10-0)/(30-0)=1/3=.33333 which means that for every gallon of water used you will be in the shower for .33333 minutes longer

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