Question

At the price of $4 a book, Hannah buys 6 books and Nene buys 5 books. When the price rises to $7 a book, Hannah buys 3 books and Nene buys 1 book. What is the market demand at $7

Answer 1

Answer:

4

Explanation:

Demand is the quantity of goods and services bought at a given price.

The higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded. This is known as the law of demand

Market demand is the sum of demand of individuals at a given price

market demand at $7 = 3 + 1 = 4