Explain how the demand curve works, and how it benefits a firm.
What will be an ideal response?
A demand curve shows how many units of a product or service consumers will demand during a specific period of time at different prices. As price increases, demand for the product or service decreases, and vice versa. Knowing the demand curve for a product or service enables a firm to examine different prices in terms of the resulting demand and relative to its overall objective.
You might also like to view...
Armando Company owns 15,000 of the 50,000 shares of common stock outstanding of Tito Company and exercises a significant influence over its operating and financial policies. The investment should be accounted for by the
A) equity method B) market method C) cost or market method D) cost method
When expressing thanks or offering congratulations, a purchased card is more impressive than a handwritten note
Indicate whether the statement is true or false
Which of the following is not a way to accomplish schedule stability?
a. level schedules b. frozen windows c. underuse of capacity d. uneven production quantities
A common carrier is held liable if it is found transporting goods that pose a menace to health
Indicate whether the statement is true or false