Individual versus Market Demand

Requires a Wolfram Notebook System

Interact on desktop, mobile and cloud with the free Wolfram CDF Player or other Wolfram Language products.

Requires a Wolfram Notebook System

Edit on desktop, mobile and cloud with any Wolfram Language product.

This Demonstration generates the horizontal sum of two consumers’ demand curves (gray) to generate a market demand curve (black). As you increases the number of consumers, the market demand curve changes accordingly. As you see, a nonlinear market demand curve can be generated from simple linear demand curves of individual consumers. Select the “show quantity demanded” button to see how the market demand is generated mathematically. It is a horizontal sum of all the individual demands in the market. The framed numbers show the individual quantities demanded and the sum of them is the market quantity demanded.

Contributed by: Samuel G. Chen (June 2011)
Open content licensed under CC BY-NC-SA


Snapshots


Details

detailSectionParagraph


Feedback (field required)
Email (field required) Name
Occupation Organization
Note: Your message & contact information may be shared with the author of any specific Demonstration for which you give feedback.
Send