The height of a demand curve represents the
A)value that a consumer is willing to pay for a good.
B)price that a producer wishes to charge for a good.
C)price that a consumer must pay the producer of a good.
D)minimum value that consumers consider about a good.
E)total volume of exchange in a market.

Question

Quizplus · Accepted Answer

The height of a demand curve represents the value that a consumer is willing to pay for a good. It shows the maximum price that a consumer is willing to pay for a specific quantity of a good or service. The height of the demand curve decreases as we move along the curve, indicating that consumers are willing to pay less for higher quantities.

The Height of a Demand Curve Represents the