0
What else can I help you with?
How the slope of the demand curve can be explained by the principle of marginal utility?
The demand curve is negatively sloped because it is based on the principle of marginal utility and this utility decreases as consumption increases. The demand price which depends on the marginal utility of a good also declines as consumption increases, so quantity and price are inversely related, leading to the negative curve and the law of demand.
True or False the steeper the demand curve the less elastic the demand curve?
It is false that the steeper the demand curve the less elastic the demand curve. The steeper line is used in economics to indicate the inelastic demand curve.
Supply curve slope downward?
supplycurve is negative slope in decreasing cost industry
What does the slope of the indifference curve reveal?
marginal rate of substitution
Describe how the slope of the demand curve can be explained by the principle of diminishing marginal utility?
People only need so much of one thing. The lower the price the more demand you will have for the product, until the customer does not want anymore. At that time it will not matter what the price is, they will not purchase any more.
Is the price elasticity constant along 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.
In which direction does the supply curve slope from the left to the right?
upward
In which direction does the supply curve slope from left to the right?
upward
What is difference between slope and the calculation of elasticity for a linear demand curve?
Along a linear demand curve elasticity varies from point to point of the demand curve with respect to different price, but slope is constant
What is the typical slope of a demand curve?
Downward
Which direction does the demand curve slope?
Is always negative. (should be in all caps for emphasis)
Why does a demand curve slope downward from left to to right?
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
Why does a demand curve slope downward left to right?
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
Is demand curve canbe upwardly sloping?
A demand curve can have an upwards slope. It solely depends on if the demand for an item is high or low.
How can one calculate marginal revenue from a demand curve?
To calculate marginal revenue from a demand curve, you can find the slope of the demand curve at a specific quantity using calculus or by taking the first derivative of the demand function. The marginal revenue is then equal to the price at that quantity minus the slope of the demand curve multiplied by the quantity.
What does a demand curve show?
The upward movement of the demand curve indicates the rising demand of the product, whereas downward movement of the demand curve indicates falling demand.
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 :)
