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Q: Which of the following statements is correct regarding the demand curve? I. It is a graphical depiction of the demand function II. It reveals the quantity demanded by the consumer at each price.
  • A. Neither I nor II
  • B. Both I and II
  • C. Only II
  • D. Only I
Correct Answer: Option B - Regarding the Demand Curve both statement I and II are correct because a demand curve is a graph that shows the quantity demanded at each price. Sometimes the demand curve is also called a demand schedule because it is a graphical representation of the demand schedules.
B. Regarding the Demand Curve both statement I and II are correct because a demand curve is a graph that shows the quantity demanded at each price. Sometimes the demand curve is also called a demand schedule because it is a graphical representation of the demand schedules.

Explanations:

Regarding the Demand Curve both statement I and II are correct because a demand curve is a graph that shows the quantity demanded at each price. Sometimes the demand curve is also called a demand schedule because it is a graphical representation of the demand schedules.