contestada

The demand curve:a) is a graphical representation of the relationship between price and quantity demanded.b) depicts the relationship between production costs and output.c) is a graphical representation of the relationship between price and quantity supplied.d) determines equilibrium price in a market.

Respuesta :

Answer:

The correct answer is option a.

Explanation:

The demand curve shows the quantity demanded of a commodity at different price levels. The law of demand states that other things being constant, an increase in the price of a commodity causes a decline in the quantity demanded of the commodity. This inverse relationship between price and quantity demanded contributes to the downward sloping shape of the demand curve.

Otras preguntas