Question

Your coworker Edison is really concerned about a project that he has just been assigned. He is in charge of analyzing and determining conditions in the market for televisions from an extensive sales report.
If Edison's boss is interested in a graphical presentation of the relationship between the price and quantity of televisions demanded, you would advise your coworker to construct ( the law of demand, a demand curve, a demand schedule) using the data provided. However, if Edison's boss is more interested in the detailed numbers used to construct this visual representation, you would instead advise your coworker that( the law of demand, a demand curve, a demand schedule) would be more appropriate.

Answer 1

Answer: Demand curve and Demand schedule

Explanation:

The demand curve is a graphical representation that shows the relationship that exist between the price of a product and the quantity demanded over a period of time. The price will be on the left vertical axis while the quantity demanded for the good will be on the horizontal axis.

The demand curve moves downward from the left to the right thereby expressing the law of demand which states that when the price of a good increases, the quantity demanded decreases vice versa.

A demand schedule is a table that shows the quantity demanded of a commodities or service at different prices. The demand schedule is usually made up of two columns with the first column listing the price of a commodity and the second column listing the quantity demanded of the product. It creates a visual representation when it's used in drawing the demand curve.