A demand curve is a graph:
A. that shows the quantities demanded by consumers of a particular good or service at one price.
B. that shows the quantities demanded by consumers of a particular good or service at various incomes.
C. depicting various price-quantity combinations of a good for a seller.
D. that visually displays the demand schedule.
Answer: D
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The labor force participation rate includes
A) only those employed but looking for a job. B) both employed workers and discouraged workers not seeking jobs. C) both employed workers and those unemployed but seeking employment. D) only those who are employed.
The price of a factor of production that is in fixed supply is called
A) opportunity cost. B) a compensating differential. C) economic rent. D) economic profit.