Question : 21) Demand curves slope ________ because as the price increases : 1228200

21) Demand curves slope ________ because as the price increases and other things remain the same, the quantity demanded ________.

A) downward; decreases

B) downward; increases

C) upward; decreases

D) upward; increases

E) downward; does not change

22) The market demand curve

A) cannot show how quantity demanded changes in response to a change in price.

B) cannot show a change in demand for a good.

C) is the horizontal sum of individual demand curves.

D) is the vertical sum of individual demand curves.

E) is upward sloping.

23) The market demand curve for mangos is

A) the same as the demand curve of one buyer in a market with many buyers.

B) upward sloping because rich people can afford more mangos than poor people can buy.

C) the horizontal sum of the individual demand curves of all the buyers.

D) the vertical sum of the individual demand curves of all the buyers.

E) the horizontal average of the individual demand curves of all the buyers.

24) There are five hundred buyers in the market for cheese. If we know each individual’s demand curves, to find the market demand, we must

A) add the prices that each buyer will pay at every quantity.

B) add the quantities that each buyer will purchase at every price.

C) multiply the price times quantity for each buyer and then add the resulting products together.

D) average the price each buyer is willing to pay for each given quantity.

E) give up because there is no way to find the market demand.

25) Market demand curves are obtained by

A) determining the price each consumer is willing to pay for the good and summing those prices across all consumers.

B) observing the prices and quantities sold in a market over time and plotting those price-quantity combinations in a graph.

C) summing the quantities every consumer is willing to buy at each different price.

D) observing the behavior of an individual consumer in a market.

E) averaging the quantities every consumer is willing to buy at each different price.

26) The market demand curve for mousetraps is

A) found by summing the quantities of mousetraps demanded at each income level by each buyer.

B) found by summing the prices of mousetraps at each quantity of mousetraps demanded by each buyer.

C) the horizontal sum of the individual demand curves for mousetraps of all the buyers.

D) Both answers B and C are correct.

E) Both answers A and C are correct.

27) To find the market demand curve for in-line skates, we must

A) add the quantities demanded at every price and every income by every buyer of in-line skates.

B) add the quantities demanded at prices that all buyers can afford to pay.

C) sum horizontally the individual demand curves of all the buyers.

D) take account of the skate buying plans of all actual and potential buyers in all possible situations.

E) None of the above answers is correct because we need also to take account of the supply of in-line skates.

28) The phrase “a change in demand” most directly implies a

A) movement along a demand curve.

B) movement along the price curve.

C) change in the quantity demanded of a good.

D) shift of the demand curve.

E) movement along the quantity curve.

29) When demand increases,

A) consumers are willing to buy more at any price.

B) consumers buy more of the good only if its price falls.

C) the price is lower at any level of quantity demanded.

D) consumers buy more of the good only if its price rises.

E) the demand curve shifts leftward.

30) A change in the demand for apples could result from any of the following EXCEPT

A) a change in the number of buyers.

B) increased preferences for fresh fruit consumption for health reasons.

C) a change in the price of an apple.

D) a change in the price of a banana.

E) a change in income.