File:Law of demand.jpg
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English: The demand curve shown in blue is sloping downward from left to right because price and quantity demanded are inversely related. This relationship is contingent on certain ceteris paribus conditions remaining constant.
The supply curve shown in orange, intersects with the demand curve at price (P*)= 80. This is the equilibrium price where quantity demanded = quantity supplied. Similarly, quantity (Q*) = 120 is the equilibrium quantity where quantity demanded and supplied is at the equilibrium price. |
| Date | |
| Source | Own work |
| Author | Daydreamm |
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I, the copyright holder of this work, hereby publish it under the following license:
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| Date/Time | Thumbnail | Dimensions | User | Comment | |
|---|---|---|---|---|---|
| current | 13:57, 22 April 2021 | | 3,688 × 2,130 (1.92 MB) | Daydreamm (talk | contribs) | Cross-wiki upload from en.wikipedia.org |
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