GK
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Demand curve is related to
|
|
MU curve
|
|
|
Marginal revenue
|
|
|
Both (a) and (b)
|
|
|
None of these
|
Explanation:
Detailed explanation-1: -A demand curve or a supply curve is a relationship between two, and only two, variables: quantity on the horizontal axis and price on the vertical axis.
Detailed explanation-2: -A demand curve shows the relationship between quantity demanded and price in a given market on a graph. The law of demand states that a higher price typically leads to a lower quantity demanded. A supply schedule is a table that shows the quantity supplied at different prices in the market.
There is 1 question to complete.