What is the demand curve?

Find related questions as follows:Suppose the demand curve for a commodity is qd=30000-20p.The supply curve is qs=5000+5p.Calculate the demand at the equilibrium point

Answers are resolved as follows:

(1) Qd=Qs, 30,000-20P =5,000+5P, and P=1,000 (yuan/tonne )

(2) Qe=30,000-20×1,000=10,000(tons)

(3) Maximum price leads to oversupply of the commodity and creates shortage to the extent of:Qd-Qs=30,000-20×400-5,000-5×400=15,000(tons)

:I. What is a demand curve

A demand curve is a curve that reflects the correspondence between demand and price and slopes downward to the right. Using the horizontal axis to represent the quantity demanded (Q) and the vertical axis to represent the price (P), we represent the relationship between demand and price in a curve, which is called the demand curve. The demand curve represents the quantity of a good demanded at each price. A demand curve is a curve that shows the relationship between price and quantity demanded and is a table or curve of the quantity of a good that a buyer is willing to buy at each price level, other things being equal. Demand curves are divided into three categories: Individual demand curves: the relationship between the quantity of a product that a single consumer is willing to buy and its price; Market demand curves: the relationship between the quantity of a product that all consumers in a market are willing to buy and its price. Enterprise demand curve: the relationship between the quantity of a product that all customers of an enterprise are willing to buy from the enterprise and its price.

II. What is the supply curve

The supply curve is a geometric representation of the functional relationship between the price of a commodity and the quantity supplied, and is a curve plotted on a planar coordinate chart based on the price-supply combinations of the commodities in the supply table. Supply is the quantity of a commodity that producers are willing and available to supply in a given market over a given period of time, corresponding to each selling price. Factors affecting supply include: the price of the commodity, the higher the price of the commodity, the more quantity producers are willing to supply; the price of other commodities, the higher the price of other commodities, the less quantity of the target commodity producers are willing to supply; the price of production technology and factors of production, technological advances increase the quantity of the target commodity to be supplied; and the firms' expectations of the future, firms' optimistic economic attitudes increase the quantity of the target commodity to be supplied. the quantity supplied.