U.S. Department
of Justice
Economic Demand Curve
| Graph representing the economic demand curve. Vertical axis is price, horizontal axis is quantity. Competitive equilibrium, which establishes the competitive price, occurs where the downward-sloping demand curve intersects with the upward-sloping supply-cost curve. The area of the graph to the upper left, between the demand curve and the competitive price, is labeled "consumer surplus." |
Updated July 5, 2024