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In microeconomics, there are various types of the curve that are used to interpret the decision of economist. Curve homework help says that demand curve, supply curve, in difference curve, cost curve and production functions are the four basic types of curve.
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Various types of curve
Demand refers to the desire of a consumer to buy goods and commodities, in other words, the purchasing power of the consumer. The demand curve is one of the most important curves that depict the relationship between the cost of a certain good with the amount of that the consumer has the ability to purchase at that price.
The demand curve is useful in a competitive market which you will understand easily by curve homework help.
Supply curve- This curve is used for the representing the relation between the price of the goods and the quality of goods. Here the price of the product is measured in the y axis and the quantity of product on the x axis. As the price of goods and commodities has a direct relationship with the quantity, the supply curve is a slope that rises upwards from left to right in most of the cases.
This curve is used to show how the combination of two products satisfies the consumer. It is also known as a downward sloping curve as the slope of the curve is directed in a downward direction and is away from the origin. It gives the information about both goods of the consumer.
Curve assignment help says that this graph is of the cost of production to the total quantity that is produced. In general, there are two main type of cost curves namely average cost curve and total cost curve which are related to each other.
It is also known as product transformation curve. The graph states about the combinations of two amounts as a function of the economy. It is often used for depicting trade-offs.
In addition to these curve assignment help found it necessary to share some more curve for the convenience of students; the other curves includes Lorentz curve, Philips curve, Wage curve, Yield curve, Rahn curve, Beverage curve, Kuznets curve, etc
They have their own uses in the subject, but the above-defined curves are used mainly in determining the stability of the market. If you want to know more about us, you are free to use our website myhomeworkhelp.com.
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