Question on: JAMB Economics - 2011
The graph of the schedule above will depict
A
a kinked demand curve
B
a normal demand curve
C
an abnormal demand curve
D
a diminishing marginal utility curve
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Correct Option: B
The question refers to a schedule, which likely represents a demand schedule. A normal demand curve is a graphical representation of the relationship between price and quantity demanded, where, all other things being equal, as the price of a good or service increases, the quantity demanded decreases, and vice versa. The other options do not accurately describe the typical representation of a demand schedule.
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