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Production and cost — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsProduction and cost3 Marks
Question
What is firm's demand curve?
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Answer

Firm's demand curve is a curve showing relationship between price of the product and its quantity demanded in the market. We know that price = AR. AR curve shows the relationship between price and output. So, we can say that firm's demand curve is the same as AR curve of the firm. It is also called firm's price line. Thus, it has been proved that AR = Price.

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