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Determine the Market demand curve
Market demand curve is the horizontal summation of individual demand curves. The individual demand schedules plotted graphically and summed up horizontally provides the market demand curve as displayed in Figure below.
The individual demands for commodity X are provided by DA, DB and Dc, correspondingly. Horizontal summation of these individual demand curves results into market demand curve (DM) for the commodity X. Curve DM represents the market demand curve for commodity X when there are just three consumers of the commodity.
Determinants of Demand Price elasticity of demand fluctuates from commodity to commodity. Whereas the demand of some commodities is highly elastic, demand for others is highly
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critically analysis the profit maximisation theory of business firm and illucidet the role of profit in business
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