A demand curve reflects each of the following except the a. highest price buyers are willing to pay for each quantity. b. willingness to pay of all buyers in the market. c. ability of buyers to obtain the quantity they desire. d. value each buyer in the market places on the good.

Question

Business

Roderick Mullen

26 January, 02:48

A demand curve reflects each of the following except the a. highest price buyers are willing to pay for each quantity. b. willingness to pay of all buyers in the market. c. ability of buyers to obtain the quantity they desire. d. value each buyer in the market places on the good.

+2

Answers (1)

Know the Answer?

Timothy Hunt · Answer 1

C) ability of buyers to obtain the quantity they desire.

Explanation:

A demand curve reflects highest price buyers are willing to pay for each quantity, willingness to pay of all buyers in the market, value each buyer in the market places on the good.

A demand curve is a graphical representation of price and quantity demanded of a commodity at a time. It shows the relationship between price and quantity demanded.

A shift in demand curve could be as a result of the following factors

1. Changes in income levels of the consumer.

2. Change in the market size.

3. Changes in the price of other commodities.

4. Change in consumers taste and preferences.

5. Change in season or periods such as festive periods when some goods have high demand.