Exhibit 6-20 Refer to Exhibit 6-20

question 112

Multiple Choice

Exhibit 6-20 Refer to Exhibit 6-20.If D, D' and D'' represent the demand curvesfor the only three consumers in a market, then the market demand curve will be more _________ than each of the three individual demand curves.

• A)steep (slope will be more negative)
• B)elastic
• C)flat (slope will be less negative)
• D)inelastic
• E)both a and d

---

Definitions:

Legal Term

A word or phrase with a specific meaning within the context of the law.

Loan

A financial agreement where a borrower receives funds with the obligation to repay them with interest over a defined period.

Note

A written promise or acknowledgement of a debt, where the writer agrees to pay the specified sum of money to the bearer or to a specific individual.

Signature

A person's name or mark written in a distinctive way as a form of identification in authorizing a document.