Question

If Yakov's boss is interested in a graphical representation of the relationship between the price and quantity of televisions demanded, you would advise your coworker to construct ________________________ (a demand curve, the law of demand, a demand schedule) using the data provided. However, if Yakov's boss is more interested in the detailed numbers used to construct this visual representation, you would instead advise your coworker that ______________(a demand curve, the law of demand, a demand schedule) would be more appropriate.

Answer 1

Answer of Question in Table.

A graphical object showing the relationship between the price of the good and the amount of the good that buyers are willing and able to purchase at various prices is Demand Curve, hence option 2.

The amount of good that buyers are willing and able to purchase at the given price is Quantity Demanded. Option 1 is correct.

Table showing the relationship between the price of the good and amount is called demand schedule. Option 3 is correct.

The last statement is, popularly called, Law of Demand. Option 4 is correct.

Answer of Paragraph

1) Demand Curve

2) Demand Schedule