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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.
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Write on one theory of profit. Profit as rent of ability: one of the most widely known theories of profit was propounded by F.A. Walker. According to him profit is the rent of is t
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