Question

Your coworker Susan is really concerned about a project that she has just been assigned. She is in charge of analyzing and determining conditions in the market for televisions from an extensive sales report. If Susan'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 using the data provided. However, if Susan's boss is more interested in the detailed numbers used to construct this visual representation, you would instead advise your coworker that would be more appropriate.

Answer 1

•You would advise your coworker to construct a "demand curve" using the data provided.

• You would instead advise your coworker that a "demand schedule" would be more appropriate.

Step-by-step explanation:

The graphical representation of the relationship between the price of a good and the amount that buyers are willing and able to demand is known as a demand curve.

On the other hand, a table showing similar data over a range of prices is known as a demand schedule.

Therefore, if Susan's boss prefers a graphical approach to market analysis, a demand curve would be more appropriate. However, if Susan's boss prefers a table of data, a demand schedule would be the better approach.