Demand Schedule and Demand curve:
Table below is a hypothetical demand schedule of an individual consumer. This shows a list of prices and corresponding amounts demanded by an individual consumer. It is an individual demand schedule.
Table: Demand Schedule
Demand Curve:
The demand schedule can be transformed into a demand curve by measuring price on vertical axis and amount on horizontal axis as shown below:
Figure: Demand curve
In figure above DD1 is the demand curve. The curve slopes downwards from left to right displaying that, whenever price increases, less is demanded and vice-versa. Therefore the demand curve symbolizes the inverse relationship among the price and quantity required, other things enduring constant.
Why does the demand curve slope downwards?
The demand curve slopes downwards mostly due to the law of diminishing marginal utility. The law of diminishing marginal utility defines that an extra unit of a commodity provides a lesser satisfaction. Thus, the consumer will purchase more only at a lower price. The demand curve slopes downwards since the marginal utility curve too slopes downwards.
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Theory of Demand help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Theory of Demand, project ideas and tutorials. We provide email based Theory of Demand help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Theory of Demand. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of Economics assignments, which may help you to solve your complex issues of Theory of Demand. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
Synthesis and Reactions of Coumarins tutorial all along with the key concepts of Physical and Chemical Properties of Coumarins, Reactions of Coumarins, Resonance structures of Coumarin and Synthesis of Coumarins
Theory and lecture notes of Repeated Games all along with the key concepts of repeated games, Fixed Repetitions, nd-game problem, Indefinite Repetitions, trigger strategy, Cartel Enforcement. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Repeated Games.
Phylum Annelids tutorial all along with the key concepts of Coelomata-Eucoelomata, Features of Phylum Annelida, Classification of Phylum Annelida, Class Polychatea, Class Oligoachaeta and Class Hirudinea
theory & concepts of network diagram representation, rules for drawing network diagram in cpm / pert, common errors in drawing networks, pert/cpm has the subsequent advantages.
Theory and lecture notes of Higher Order Methods all along with the key concepts of Variable Step Size and RK45, Fourth Order Runge-Kutta, The order of a method. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Higher Order Methods.
Styrene Butadiene Rubber tutorial all along with the key concepts of Structural formula of Styrene Butadiene Rubber, Types of Styrene butadiene rubber, Solution SBR Polymerization process and Applications of Styrene Butadiene Rubber
tutorsglobe.com carbohydrate as a source of energy assignment help-homework help by online carbohydrate metabolism tutors
theory and lecture notes of ttl nand gate all along with the key concepts of ttl nand gate circuit structure, logical operation and circuit analysis. tutorsglobe offers homework help, assignment help and tutor’s assistance on ttl nand gate.
Theory and lecture notes of Nominal Vs Real Exchange Rates all along with the key concepts of nominal vs real exchange rates, nominal exchange rate, real exchange rates, Domestic exporters, Domestic manufacturers and Computing exchange rates. Tutorsglobe offers homework help, assignment help and tutor’s assistance on nominal vs real exchange rates.
tutorsglobe.com mechanism of photosynthesis assignment help-homework help by online photosynthesis tutors
Theory and lecture notes of Stackelberg’s Duopoly all along with the key concepts of stackelberg’s duopoly, Leader-Follower Model, follower are predetermined, followers are not certain, Cournot Duopoly. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Stackelberg’s Duopoly.
the emergent properties are defined for the whole system when all its parts are summed up to make it one. these properties are not related specifically to any one component.
tutorsglobe.com applications of bioinformatics assignment help-homework help by online bioinformatics tutors
rectify the fault in fm receiver - noisy reception - first of all switch on the receiver, hearing the programme with noisy sound.
draw the winding diagram for a 2 pole, 6 slot double layer simplex wave connected dc machine with commutator comprising 12 segments. point out the position of brushes.
1945431
Questions Asked
3689
Tutors
1495641
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!