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What does the term demand curve mean?
Graphical representation of law of demand that is change in quantity demanded due to change in price keeping other factors constant is demand curve. It is downward sloping as there is inverse relation between price and quantity demanded.
Why price on y-axis in demand function?
bez when demand function have price on y-axis, its mean that price have the inverse relation to the demand, in other words price lead to demand curve.
What is behind the demand curve?
Law of demand is behind the downward sloping of demand curve,i.e. inverse relationship between price and quantity demanded.
What is the difference between movement or shift along the demand curve?
The change in the demand of a commodity due to change in its price leads to moving the demand curve upward or downward depending upon the change in price. When the price rises, the demand falls. And when the price falls the demand for that commodity rises leading to movement in the demand curve. Shift in the demand curve is the result of the price remaining constant but the demand changing due to several other factors such as, change in fashion, population, etc. Hence at the same price when more is demanded the demand curve shifts to the right. and at the same price when less commodity is demanded it results in the shift of the demand curve to the left.
Is the elasticity of demand curve equal to the slope of the demand curve?
Price elasticity of demand is equal to the instantaneous slope of the demand curve, or the slope of the tangent line at any point on the demand curve. So if the demand curve is represented by a straight downward sloping line, then yes, price elasticity of demand is equal to the slope of the demand curve. Otherwise, the slope at any point on the curve is changing, and you can find the it by taking the derivative of the demand curve function, which will find the Price elasticity of demand at any single point. Thus, the Price Elasticity of Demand changes at different points on the demand curve.
What does the market demand curve show?
It shows the demand for the product in relation to the price
What does the term demand curve mean?
Graphical representation of law of demand that is change in quantity demanded due to change in price keeping other factors constant is demand curve. It is downward sloping as there is inverse relation between price and quantity demanded.
Why price on y-axis in demand function?
bez when demand function have price on y-axis, its mean that price have the inverse relation to the demand, in other words price lead to demand curve.
What is the difference between a demand schedule and a demand curve?
a demand schedule is a table showing the relationship between the price of a good and the quantity demanded , but a demand curve is a graph showing the relationship between the price of a good and the quantity demanded.
What the difference between movement along the demand curve and a shift in demand?
A movement along the demand curve is only caused by a change in price of that specific good, a demand curve is the quantity demanded for a good at each price. If the demand curve shifts, this means that something besides price is affecting the demand, so that at each price more or less is demanded.
What is behind the demand curve?
Law of demand is behind the downward sloping of demand curve,i.e. inverse relationship between price and quantity demanded.
What curve shows the relationship between the sales price and quantity is called the demand curve?
supply
What is the relation between price and demand?
There is inverse relation between demand and price it means if one increase the other will decrease and vice versa. the inverse relation exit between demand and price due to three reason Diminshing of marginal utility Income effect Substitute effectc
Term for relationship between price and quantity supplied?
Demand Curve
Demand curve slopes downwards from left to right. this is the negative slope that shows the inverse relationship between price and demand. explain why does the demand curve slope downwards?
because demand decreases as price increases :)
What are the factors that will shift the demand curve?
All factors other than price will shift the demand curve. Price moves along the demand curve.
