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A demand curve slopes downward left to right because the relationship between price and demand is negative - as price drops demand rises. The opposite is true for a supply curve where as price rises supply rises - the relationship is positive so the supply curve slopes upward from left to right. Nova net answer- because demand decreases as price increases
Example of a Linear Demand Curve
demand curve tends to be downward sloping (negative) for normal goods. for goods that are perceived to be of superior value to customer (like it serves as a status quo), the higher the price, the higher the quantity demanded. hence, giving a positive demand curve. there are called the veblen goods. Giffen goods also has a positive demand curve.
Law of demand is the reason of the downward sloping of demand curve.Law of demand states the inverse relationship of demand of a commodity and it's price,and demand curve represents this inverse relationship of demand and price.So in this way they both are related.
Law of demand is the reason of the downward sloping of demand curve.Law of demand states the inverse relationship of demand of a commodity and it's price,and demand curve represents this inverse relationship of demand and price.So in this way they both are related.
A demand curve slopes downward left to right because the relationship between price and demand is negative - as price drops demand rises. The opposite is true for a supply curve where as price rises supply rises - the relationship is positive so the supply curve slopes upward from left to right. Nova net answer- because demand decreases as price increases
A demand curve slopes downward left to right because the relationship between price and demand is negative - as price drops demand rises. The opposite is true for a supply curve where as price rises supply rises - the relationship is positive so the supply curve slopes upward from left to right. Nova net answer- because demand decreases as price increases
A demand curve slopes downward left to right because the relationship between price and demand is negative - as price drops demand rises. The opposite is true for a supply curve where as price rises supply rises - the relationship is positive so the supply curve slopes upward from left to right. Nova net answer- because demand decreases as price increases
Example of a Linear Demand Curve
demand curve tends to be downward sloping (negative) for normal goods. for goods that are perceived to be of superior value to customer (like it serves as a status quo), the higher the price, the higher the quantity demanded. hence, giving a positive demand curve. there are called the veblen goods. Giffen goods also has a positive demand curve.
Law of demand is the reason of the downward sloping of demand curve.Law of demand states the inverse relationship of demand of a commodity and it's price,and demand curve represents this inverse relationship of demand and price.So in this way they both are related.
Law of demand is the reason of the downward sloping of demand curve.Law of demand states the inverse relationship of demand of a commodity and it's price,and demand curve represents this inverse relationship of demand and price.So in this way they both are related.
Law of demand is behind the downward sloping of demand curve,i.e. inverse relationship between price and quantity demanded.
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.
supply
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.
marginal revenue always lies behind the demand curve,and when demand increases marginal revenue also increases.demand curve is used to determine price of a commodity.