We Are Given the Individual Demand Curves for All of the People

question 216

Multiple Choice

We are given the individual demand curves for all of the people that consume ice cream. Which statement is TRUE about the market demand curve for ice cream?

• A) The market demand curve is obtained by horizontally summing the individual demand curves.
• B) The market demand curve is obtained by vertically summing the individual demand curves.
• C) The market demand curve cannot be obtained because information on prices is missing.
• D) The market demand curve cannot be obtained from individual demand curves.

---

Definitions:

Affiliation

A connection or association with a group or organization, often based on common interests or goals.

Structured

Organized in a systematic or coherent way, often referring to data, systems, or processes.

Master Status

A dominant social or cultural position that overwhelmingly defines a person's identity in society, often overshadowing other individual attributes.

Gemeinschaft

A term used in sociology to describe a community or society characterized by close, personal relationships and a strong sense of common identity.