The relationship between the price charged and the resulting demand level can be shown as the ________.
A)demand curve
B)supply curve
C)cost curve
D)break-even chart
E)inflation rate

Question

Quizplus · Accepted Answer

The relationship between price and demand is typically shown through a demand curve, which illustrates the quantity of a good or service that consumers are willing and able to purchase at different price points. As the price of a good or service increases, the demand for that product typically decreases, and vice versa. Understanding this relationship can help businesses set prices that maximize profitability while also meeting consumer demand.

The Relationship Between the Price Charged and the Resulting Demand