We derive the ________ for X from indifference curves and a budget constraint by changing the price of X.
A) supply curve
B) demand curve
C) marginal utility
D) total utility

Question

Quizplus · Accepted Answer

The demand curve for a good, such as X, is derived from the combination of indifference curves (which represent consumer preferences) and a budget constraint, by observing how the quantity demanded changes as the price of the good changes.

We Derive the ________ for X from Indifference Curves and a Budget