The relationship between the price charged and the resulting demand level can be shown as the ________.
A)demand curve
B)variable cost
C)target cost
D)breakeven chart
E)experience curve

Question

Quizplus · Accepted Answer

The relationship between price and demand is typically represented by a demand curve. This curve shows the quantity of a product or service that consumers are willing and able to buy at different price points. As the price increases, demand typically decreases, and vice versa. The demand curve is an important tool for businesses to understand as they set prices and try to maximize revenue.

The Relationship Between the Price Charged and the Resulting Demand