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
1. Equation: 4x + 6y = 40
Answer:!4x + 6y - 40 = 0
2x + 3y - 20 = 0
2. Equation: 2x + 6y = 26
Answer: 2x + 6y - 26 = 0
x + 3 y - 13 = 0
Answer: 3/7
Step-by-step explanation:
Step-by-step explanation:
125+680w<u>></u>2,500+450w
Answer:
The 95% confidence interval for the average hourly wage of all information system managers is (39.14,42.36)
Step-by-step explanation:
In order to calculate the 95% confidence interval for the average hourly wage we would have to calculate first the margin of error as follows:
ME=t0.05/2,n-1s/√n
for n=75, t0.025,74=1.993
Therefore, ME=1.993*7/√75
ME=1.61
Therefore, the 95% confidence interval for the average hourly income of all syatem manager would be as follows:
(X-ME,X+ME)=(40.75-1.61,40.75+1.61)
=(39.14,42.36)