A Market Demand Curve Shows

question 19

Multiple Choice

A market demand curve shows

• A)the relationship between price and the number of buyers in a market.
• B)how quantity demanded changes when the number of sellers changes.
• C)the sum of all prices that individual buyers are willing and able to pay for each possible quantity of the good.
• D)how much of a good all buyers are willing and able to buy at each possible price.

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Definitions:

Distribution

Describes the way values in a dataset are spread or dispersed across the range of possible values.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values from their mean.

Normally Distributed

Describes a distribution that is symmetrical, bell-shaped, and characterized by data equally spread around the mean, implying many measurement observations fall close to the average.

Mean

The average value in a set of numbers calculated by dividing the sum of all values by the number of values.