What does the demand curve tell us about the price that consumers are willing to pay? A demand curve O A. tells us the maximum that someone is willing to pay for an additional unit of a good or service O B. shows us that the highest price that someone is willing to pay for an additional unit of a good or service falls as the quantity decreases O C. tells us how much someone wants to buy, but not necessarily how much they can afford to buy O D. is a marginal cost curve

Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter19: Elasticity
Section: Chapter Questions
Problem 4QP
icon
Related questions
Question
What does the demand curve tell us about the price that consumers are willing to​ pay?
A demand curve​ _______.
What does the demand curve tell us about the price that consumers are willing to pay?
A demand curve
O A. tells us the maximum that someone is willing to pay for an additional unit of a good or service
O B. shows us that the highest price that someone is willing to pay for an additional unit of a good or service falls as the quantity decreases
OC. tells us how much someone wants to buy, but not necessarily how much they can afford to buy
O D. is a marginal cost curve
Transcribed Image Text:What does the demand curve tell us about the price that consumers are willing to pay? A demand curve O A. tells us the maximum that someone is willing to pay for an additional unit of a good or service O B. shows us that the highest price that someone is willing to pay for an additional unit of a good or service falls as the quantity decreases OC. tells us how much someone wants to buy, but not necessarily how much they can afford to buy O D. is a marginal cost curve
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Demand and Supply Curves
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Economics (MindTap Course List)
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Microeconomics
Microeconomics
Economics
ISBN:
9781337617406
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours…
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
MACROECONOMICS
MACROECONOMICS
Economics
ISBN:
9781337794985
Author:
Baumol
Publisher:
CENGAGE L
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax