A graphical representation of the demand function is called a:
A) demand schedule.
B) demand curve.
C) demand function.
D) marginal revenue schedule.
E) marginal revenue curve.

Question

Quizplus · Accepted Answer

A demand curve is a graphical representation of the relationship between the price of a good or service and its quantity demanded. It shows the amount of a good or service that consumers are willing and able to buy at different prices. The demand curve slopes downward from left to right, indicating that as the price of a good or service increases, the quantity demanded decreases, and vice versa.

A Graphical Representation of the Demand Function Is Called A