Explain market demand schedule with a suitable diagram.

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Solution

PRICE QUANTITY DEMANDED
5 5 UNITS
4 10 UNITS
3 15 UNITS
2 20 UNITS
Market demand curve refers to the graphical representation of market schedule. It is obtained by the horizontal summation of individual demand curves.
We see, that at price 5 the units demanded are 5, when the price is 4, the units demanded is 10 and so on. This shows that as the price decreases the demand increases.

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