Market demand function is result of horizontally

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A market demand function is the result of horizontally summing individual demand curves for a give commodity. A market demand function for a good X can usually be expressed as a function of the own price of good X, prices of related goods, income levels of those purchasing good X, preferences towards X, and other factors. a) a. for every one dollar increase in the price of computers, consumption falls by 700 units ; it is likely that software acts in complementary manner to computers ; the company should assume their customer demographic buys more computers as they get poorer b) b. computers are relatively elastic ; it is likely that software acts as a substitute to computers ; the company should assume their customer demographic buys more computers as they get richer c) c. for every one dollar increase in the price of computers, consumption falls by 700 units ; it is likely that software acts in complementary manner to computers ; the company should assume their customer demographic buys more computers as they get richer d) d. for every one dollar increase in the price of computers, consumption rises by 200 units ; it is likely that software.

Reference no: EM134033261

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