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3 years ago

A demand curve shows how changes in

2 answers:

8 0

A demand curve shows how changes in quantity affect price. The demand curve is a graph that will have a good or service and how the quantity purchased is related to the price point the item is set at. Overall, the relationship between demand and price are directly related and depicted on the graph.

Ira Lisetskai [31]3 years ago

6 0

Option (b) is correct. The A demand curve shows how changes in quantity affect the price.

Further Explanation:

Demand curve:

The demand curve is the graphical representation of the demand and price of a product. It shows the relationship between demand and supply. The change in the demand and price of the product can be effectively presented by the way of the graph. It is assumed that other things will remain constant.

Justification for the correct and incorrect option:

Quality affect price: This is an incorrect option because the demand curve does not establish the relationship between the quality and price of the product.

Quantity affect price: This is the correct option because the demand curve shows the relation between the quantity (demand) and price. It will show how the change in demand will affect the price of the product.

Quantity affects income: This is an incorrect option because the demand curve represents the relation between the quantity and price of the product.

Quality affects elasticity: This is an incorrect option because the demand curve does not showcase the relationship between the quality and elasticity of the product.

Thus, option (b) is correct. The A demand curve shows how changes in quantity affect the price.

Learn More:

1. Learn more about the demand and supply diagram

brainly.com/question/2195487

2. Learn more about the demand curve

brainly.com/question/8794304

3. Learn more about the forecasting human resources supply

brainly.com/question/6123400

Answer Details:

Grade: Senior School

Chapter: Demand and supply

Subject: Economics

Keywords: demand curve, change, quality, price, product, elasticity, increase, decrease, shift, demand, and supply.

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4 years ago

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$15.3 per direct labor hour

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4 years ago

Assume the MPC is 0.6. If government were to impose $10 billion of new taxes on household income, consumption spending would ini

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$6 billion

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Calculation to determine what consumption spending would initially decrease by

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3 years ago

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Answer:

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Explanation:

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3 years ago

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Answer:

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