Answer:
Option: B is the correct answer.
B) prices affect the consumer demand.
Step-by-step explanation:
Demand Graph--
In economics a demand graph is a graphical representations that represents or depicts the relationship between the prices of commodity or services and the number of consumers.
It shows how the demand of a commodity or services changes with the change in it's price during a period of a time.
It shows how the quantity of consumption of a commodity decreases with the decrease in demand on increase in the price.
The graph that represents this relationship is attached to the answer.
The option B is correct.
Further explanation:
A demand function is a mathematical relationship between the price of the commodities/goods or services and the number of consumers.
The standard form of a linear demand function is where
is the quantity demanded of a good and
is the price of the goods.
The demand of a good varies with these key factors price, point of time, market place.
There is inverse relationship between the price of the commodity and the quantity demanded.
Here, the price of the commodity is the independent variable and the quantity demand is the dependent variable.
As the price goes will increase then the demand of that commodity will decreases because every consumer wants to buy the goods at the low prices during a period of time and vice versa.
The decrease in demand represents the consumption of the commodity decreases.
This is called the law of demand.
The graph of the demand function is negative sloped.
Therefore, the price of the consumer affects the demand.
Thus, option B is correct.
The other options violates the theory of economics therefore the other options are not correct.
Learn more:
Answer details:
Grade: High school
Subject: Mathematics
Chapter: Demand function
Keywords: Demand, graph, mathematical function, prices, goods, consumers, commodity, affects, substitute goods, income, complementary goods, demand curve
