What does the demand curve for a product reflect
A)the value of the product to consumers
B)the cost of the product's externality on society
C)the quantity consumers are able to purchase
D)the price the product will sell for in the market

Question

Quizplus · Accepted Answer

The demand curve for a product reflects the value of the product to consumers. It shows the relationship between the quantity of a product that consumers are willing to buy and the price of the product. As the price of a product decreases, the quantity demanded by consumers tends to increase, reflecting the higher value they place on the product at a lower price. Conversely, as the price of a product increases, the quantity demanded tends to decrease, reflecting the lower value consumers place on the product at a higher price.

What Does the Demand Curve for a Product Reflect