If the price of a physician visit is 75 and individual A pur

If the price of a physician visit is $75, and individual A purchases 10 visits, individual B purchases 12 visits, individual C purchases 14 visits, and individual D purchases 0 visits, what is the market demand for physician visits?

36 visits

40 visits

9 visits

26 visits 1

2 visits

Solution

36 visits.

Explanation: Market demand is the sum total individual demand. Therefore,

Market Demand = Demand by individual A + individual B + individual C + individual D

                        = 10 + 12 + 14 + 0

                        = 36