Is there a practical case in the market, where it is not possible to define a demand curve?

Economics Dec 10, 2020

Expert Solution

It is not possible to define a demand curve practical in the market because the demand curve is continuously functioning which shows the negative relationship between the price and demand. Whereas, in the free market the price and quantity are discrete which consists of subjective value which is not continuous so it is not possible to define a demand curve practically in the market.

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