supply and demand curve for hybrid vehicles
The demand / supply graph is designed to have supply on the vertical axis (Y) and demand on the horizontal (X). Thus you will have a higher supply = lower demand, or lower supply = high demand.
Because it is basically curved shape, therefore, there are points/areas on the curve where the demand or supply will be elastic and on some other parts be inelastic. At the top of the curve, demand/supply tends to be inelastic and at the bottom of the curve, it tends to be elastic. Obviously, the more you go up the more we reach the perfectly inelastic demand/supply and the further you go down the curve, the more you reach the perfectly elastic demand/supply
which is true about the functional relationship shown in the graph
Demand curve describes the relationship between the product price and the number of the product demanded through the use of graph. This is also an illustration of demand schedule.
A supply curve is a graph showing each and every price in that market, where as a Market supply curve shows the prices by all firms that offer the product for sale in a given market.
The demand / supply graph is designed to have supply on the vertical axis (Y) and demand on the horizontal (X). Thus you will have a higher supply = lower demand, or lower supply = high demand.
Because it is basically curved shape, therefore, there are points/areas on the curve where the demand or supply will be elastic and on some other parts be inelastic. At the top of the curve, demand/supply tends to be inelastic and at the bottom of the curve, it tends to be elastic. Obviously, the more you go up the more we reach the perfectly inelastic demand/supply and the further you go down the curve, the more you reach the perfectly elastic demand/supply
which is true about the functional relationship shown in the graph
Demand curve describes the relationship between the product price and the number of the product demanded through the use of graph. This is also an illustration of demand schedule.
Downward left to right
A supply curve is a graph showing each and every price in that market, where as a Market supply curve shows the prices by all firms that offer the product for sale in a given market.
The purpose of a supply curve is to graph the relationship between quantity supplied and price charged.
The purpose of a supply curve is to graph the relationship between quantity supplied and price charged.
Supply and demand intersect at an equilibrium point which determines the optimal quantity of whatever good and its price level. When the demand goes up, the price level increases and the quantity of goods increases as well. When the supply goes up, the price level goes down and the quantity of the good increases. It is easier to visualize this relationship by drawing the graph with a downward sloping demand curve intersecting an upward sloping supply curve. (When drawn, it should resemble the letter "X")
The link between a product and how much it is worth, the amount it is in demand and how much customers are ready to pay for it can be shown in economics on a graph known as a demand curve. This is also known as the marginal benefit curve.
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Graph