Explain the relationship between the individual consumers

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Reference no: EM13151606

A. Consider the demand for a product defined to be “soda pop.”

1. What would be included in the definition of this product?

2. What geographic area would the market area typically considered be?

3. How would quantity demanded and the price of this product be measured?

4. Explain the relationship between the individual consumers’ demand and the market demand

Anyone can show me the answer for No.1, 2 and 6 in details?

Reference no: EM13151606

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