Newsweek ran a pricing experiment that involved setting different prices for its magazine in different cities and counting the number of units sold. After adjusting for factors like the population of the different cities, Newsweek could plot these prices and units to result in a:
A)demand curve.
B)target return curve.
C)consumer tastes curve.
D)unit volume curve.

Question

Quizplus · Accepted Answer

By setting different prices and analyzing the corresponding units sold, Newsweek was able to observe the relationship between price and demand, resulting in a demand curve. This curve shows the quantity of magazines consumers are willing to buy at different price points.

Newsweek Ran a Pricing Experiment That Involved Setting Different Prices