Asked by Samantha Carey on Sep 24, 2024
Verified
A demand curves describes
A) the amount of units a consumer will purchase at a given price
B) the amount of units a producer will sell at a given price
C) both the amount of units that a consumer will buy and a producer will produce at a given price
D) the amount of units supplied given a change in prices
Demand Curves
Curves that describe buyer behavior and tell you how much consumers will buy at a given price.
Consumer
An individual or group who purchases goods or services for personal use.
Producer
An individual or entity that creates or supplies goods or services.
- Understand the theory and computation of elasticity for both individual and market demand.
Verified Answer
LY
Leila Yassineabout 14 hours ago
Final Answer :
A
Explanation :
A demand curve shows the relationship between the price of a good and the quantity that consumers are willing and able to buy at that price. It only describes the amount of units that consumers are willing to purchase at a given price, not the amount that producers will sell.
Learning Objectives
- Understand the theory and computation of elasticity for both individual and market demand.