A Demand Curve Can Be Thought of as

question 277

Multiple Choice

A demand curve can be thought of as

• A)a graphical display of "market potential." 
• B)a graphical representation of the information in a demand schedule.
• C)showing how much people want to buy.
• D)a forecasting tool.
• E)All of the above are correct.

Compute and interpret average and marginal revenue from given data.

Understanding of total revenue calculation and its changes based on units sold.

Grasping the concept of average revenue and how it is affected by the volume of sales.

Ability to analyze the relationship between marginal revenue and total revenue.