On a graph where the horizontal axis represents quantity sold and the vertical axis represents selling price, the basic demand curve in a competitive market can be graphed:
A) as a horizontal line.
B) as a vertical line.
C) as a downward sloping line to the right.
D) as an upward sloping line to the right.
E) in the same manner as the total revenue curve.

Question

Quizplus · Accepted Answer

The basic demand curve in a competitive market is graphed as a downward sloping line to the right, indicating that as the price decreases, the quantity demanded increases, and vice versa.

On a Graph Where the Horizontal Axis Represents Quantity Sold