What is the difference between a demand schedule and a demand curve?
What will be an ideal response?
A demand schedule is a table that shows the relationship between the price of a product and the quantity of the product demanded. A demand curve is a curve that shows the relationship between the price of a product and the quantity of the product demanded.
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The information in the above table gives the 2000 base period market basket and prices used to construct the CPI for a small nation. The table also has 2010 prices. What is the value of the CPI for 2010?
A) 140 B) 133 C) 100 D) 71.4 E) 142
A graph measures y on the vertical axis and x on the horizontal. The curve on the graph is a horizontal line. From this fact we know that
A) the value of x never changes. B) the value of y does not depend on the value of x. C) the ratio of x to y is constant. D) the slope of the line is not defined because y never changes.