For a given demand curve, the high-valued uses are at the _____, and the low-valued uses are at the _____.
A) top; bottom
B) bottom; top
C) top; top
D) bottom; bottom

Question

Quizplus · Accepted Answer

According to the law of demand, consumers are willing to pay a higher price for a good or service that they value highly, and a lower price for a good or service that they value less. Therefore, the high-valued uses will be at the top of the demand curve, where the price is higher, and the low-valued uses will be at the bottom of the demand curve, where the price is lower. Choice A correctly identifies this relationship.

For a Given Demand Curve, the High-Valued Uses Are at the _____