The statement "everyone's individual demand for a particular good or service can be represented by the same demand curve " is false. Option B
This is further explained below.
Generally, In the field of economics, a demand curve is a graph that illustrates the relationship between the price of a particular commodity and the quantity of that commodity that is demanded at that price. Specifically, the graph shows how the quantity of a commodity is affected by the price of the commodity.
Demand curves may be used to analyze the price-quantity connection for a single customer, or they can be used to analyze the relationship for all consumers in a certain market.
In conclusion, It is a fallacy to assert that "everyone's individual need for a given commodity or service can be represented by the same demand curve."
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Complete Question
Everyone's indiviaual demand for a particular good or service can be represented by the same demand curve
True or false
