Explain the difference between an individual demand curve and a market demand curve.

an individual demand curve

a. relates the quantity of a good that a single consumer will buy to its price, while a market demand curve is all the individual demand curves multiplied together.

b. relates the quantity of a good that a single consumer will buy to its price, while a market demand curve relates the quantity of a good that all consumers in a market will buy to its price.

c. relates the quantity of a good that consumers in a market will buy at one particular price, while a market demand curve relates the quantity of a good that consumers in a market will buy at all prices.

d. both a and b are correct.

e. both b and c are correct.

Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities.required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.