The market demand for office space is the... (economics..help!)?
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a) vertical sum of the individual demands for office space b) average of the individuals demands for office space c) horizontal sum of the individual demands for office space d) horizontal product of the individual demands for office space (Pleasee help if you know your stuff for economics.!!)
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Answer:
c) Horizontal sum of the individual demands for office space Think of the what a demand curve is a graph of: price versus quantity. Thus a horizontal sum of the individual demand curves will sum the quantity of office space each person wants at a given price. Therefore the market quantity demanded of office space (the total demanded for the market) at a given price is the sum of each individual curve.
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