Answer:
the sum of all prices that the individual buyers are willing and able to pay for each possible quantity of the good.
Explanation:
Market demand refers to the sum of the individual demand for a commodity from all buyers in a given market.
A market demand curve is therefore a graph that shows the the sum of the individual demand for a commodity from all buyers in the market.
Therefore, the correction option is "the sum of all prices that the individual buyers are willing and able to pay for each possible quantity of the good".
Note that the market demand curve is a downward sloping curve due to the fact that there is a negative relationship between price and quantity demanded. That is, as price increases, the quantity demanded decreases. On the other hand, as price decreases, the quantity demanded increases.
Also note that an example of a market demand curve is given in the attached graph. From the graph, it can be seen that when price is 
, quantity demanded is 
. But when price falls to 
, quantity demanded increased to 
. This shows the negative relationship between price and quantity demanded as explained above.
Answer:
c. The firms reach the monopoly outcome.
Explanation:
The oligopoly is a market structure with a small number of competitors that have all of most if not all of the sales in an industry. According to Nash theory, the equilibrium is reached when each competitor is doing the best it can given what its competitors are doing and have no incentive to deviate (acting all together as a monopoly).
Answer:
The average rate of return for this investment is 21%
Explanation:
Average rate of return : The average rate of return shows the ratio between average net income and average initial investment.
Mathematically,
Average rate of return = Average Net income ÷ Average Initial Investment
where Average Net income = Total years of net income ÷ Number of years
= ($100,000 + $60,000 + $30,000 + $10,000 + $10,000) ÷ 5
= $42,000
And, Average Initial Investment = Initial Investment ÷ 2
= $400,000 ÷ 2
= $200,000
Now, average rate of return = $42,000 ÷ $200,000
= 21%
Thus, the average rate of return for this investment is 21%
Answer:
E. above; surplus; downward
Explanation:
When the price is <u>above</u> the equilibrium price, we would expect there to be a <u>Surplus</u>, causing the market to put <u>downward</u> pressure on the price until it went back to the equilibrium price.
Equilibrium price is the price at which demand and supply of goods are equal. If we plot in graph then we can see demand and supply curve intersect at the equilibrium price. In case price is above the equilibrium price then quantity supplied will be higher than quantity demanded then there will be surplus in the market, which create downward presure on the price as price was higher and consumer will purchase the product at low price. Therefore, both supply and demand forces price to be back at equilibrium.
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Explanation:
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