Traditional Culture Encyclopedia - Traditional culture - Demand curves for pharmaceuticals and automobiles are different
Demand curves for pharmaceuticals and automobiles are different
Drugs and cars have different demand curves. The demand curve for drugs is positively related to price. The demand curve for automobiles is positively related to the price of gasoline. The demand curve represents the quantity of a good demanded at each price. The demand curve is a curve showing the relationship between price and quantity demanded, and is a table or curve of the quantity of a good that buyers are willing to buy at each price level, other things being equal. Where the quantity demanded is not observable. The demand curve can take any shape, and a demand curve that complies with the demand theorem can only be sloping downward to the right.
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