Final answer:
To draw a demand curve for this situation, plot the given information on a graph, representing the price on the y-axis and the number of buyers on the x-axis. Connect the points to form a downward-sloping demand curve.
Step-by-step explanation:
To draw a demand curve for this situation, we need to plot the given information on a graph. On the x-axis, we will represent the number of buyers, and on the y-axis, we will represent the price. We can label the x-axis as '# of buyers' and the y-axis as 'price'.
a. At $1 per cob, 4 buyers will purchase sweetcorn at the farmers market. So, we can plot a point at (4, $1).
b. At $2 per cob, maybe 3 people will buy corn. We can plot a point at (3, $2).
c. At $3 per cob, 2 people will buy sweetcorn. So, we can plot a point at (2, $3).
d. At $4 per cob, 1 person will buy sweetcorn. We can plot a point at (1, $4).
By connecting these points, we can draw a downward-sloping demand curve that represents the relationship between the price and the number of buyers.
A demand curve for sweetcorn is plotted by marking the quantity bought at each price on a graph and connecting these points to show a downward-sloping line, reflecting the law of demand.
To draw a demand curve for sweetcorn based on the given situation, start by drawing two axes: On the x-axis, we will represent the # of buyers, and on the y-axis, we will represent the price. Plot the points given for each price:
After plotting the points, draw a line connecting them to form the demand curve. This curve should slope downward from left to right, illustrating the law of demand: as price increases, quantity demanded decreases.