Below is a graph showing the relationship between demand and supply in price determination. (i)Identify curves X and Y (ii)What name is given to the point where...

Below is a graph showing the relationship between demand and supply in price determination.

(i)Identify curves X and Y
(ii)What name is given to the point where curves X and Y intersect,
iii) Give a reason why curve X slopes downwards from left to right.

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i) X- Supply curve
Y- Demand curve

ii) Equilibrium point

iii)The higher the price the lower the quantity demanded and the lower the price the more the quantity demanded.

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Kavungya answered the question on October 3, 2019 at 10:02

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