--%>

Illustrates inverse relationship between price and quantity

Illustrates the inverse relationship between price and quantity?

E

Expert

Verified

The downward slope indicates lower quantity (horizontal axis) at higher price (vertical axis), higher quantity at lower price.

   Related Questions in Business Economics

  • Q : Heterodox perspective of business

    I am facing difficulty in this question. Help me in find out correct answer of this economy based question. From heterodox perspective, why do business enterprises choose administered prices as opposed to highly flexible prices?

  • Q : Individual sellers and buyers in

    Both individual sellers and buyers within perfect competition: w) can affect the market price through their own individual actions. x) can affect the market price by joining along with some of their competitors.  y) have to take the market price as a specified. z

  • Q : Slope of a straight line is the ratio

    Explain the slope of a straight line is the ratio of the vertical change to horizontal change between any two points on the line?

  • Q : Distinguish between allocative

    Distinguish between allocative efficiency and productive efficiency. Give an illustration of achieving productive, but not allocative, efficiency?

  • Q : Main advantage of EVA The main

    The main advantage of using EVA is that it is simple to calculate and understand. It uses simple measures like operating profits and cost of capital terms which are widely known and accepted in the financial arena. It helps the managers to assess thei

  • Q : What 2 points are required to emphasis

    What 2 points are required to emphasis foreign exchange market?

  • Q : Specialization and trade according to

    Not between concepts explained in Adam Smith’s Wealth of Nations was the conception which net benefits occur from: (1) specialization and trade according to comparative advantage. (2) the division of labor in production processes. (3) reliance o

  • Q : What are the 4 phases of the business

    What are the 4 phases of the business cycle?

  • Q : Scientific method how does it relate to

    What is the scientific method and how does it relate to theoretical economics?  What is the difference between a hypothesis and an economic law or principle?

  • Q : Show that students who study more hours

    Suppose studies show that students who study more hours receive higher grades.  Is there any relationship which guarantees that any particular student who studies longer will get higher grades?