Question

Which would you use to estimate the demand for a product at various prices?

A.) a demand table
B.) a demand chart
C.) a demand schedule

Answer 1

In this situation you would use a demand chart

Answer 2

Answer: B.) a demand chart

Explanation:

A demand chart is a graph which shows the relationship between the quantity demanded of a good or product and the prices which the consumer are willing to pay over a specified period of time. It reveals the law of demand which states that quantity demanded increase as price decreases and vice versa. Furthermore, it shows the price of a good on the vertical axis and the quantity demanded on the horizontal axis.