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To show the level of demand at various prices

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Anonymous

4y ago

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Which best explains the purpose of a demand schedule?

To show the level of demand at various prices.


What best explains the purpose of the supply schedule?

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What best explains the purpose of a free demand schedule?

A free demand schedule illustrates the relationship between the price of a good or service and the quantity demanded by consumers at various price points. Its primary purpose is to help businesses and economists understand consumer behavior, enabling them to make informed decisions about pricing, production, and market strategies. By analyzing this schedule, stakeholders can predict how changes in price might affect overall demand in the market.


What is the difference between demand function and demand schedule?

Demand schedule: a list of demand/price equivalencies. It can best be seen as a table with discrete points. Demand function: a continuous function of price-demand interaction. Main difference: schedule is discrete; function is continuous.


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