It can point out prices at which a company can maintain consumer demand and support reasonable profits. The vertical axis on a demand curve graph denotes the price, while the horizontal axis ...

Graph her demand curve, and calculate the price elasticity of demand for ... to pay for the opportunity to purchase an automobile at some price is the consumer surplus. 2. If the substitution effect ...

the fact that consumers use economic goods to satisfy their most urgent needs first. A market demand curve expresses the sum of quantity demanded at each price across all consumers in the market.