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 shows an inverse relationship between price and quantity demanded, so it is graphed as a downward sloping line to the right.

On a Graph Where the Horizontal Axis Represents Quantity Sold