47. The following is a complete and correct definition of the demand curve for commodity X. The demand curve shows, for a given market:
A) how much of X would be bought at the equilibrium price.
B) how, as people's incomes rise and they have more money to spend, their purchases of X would increase.
C) how the amount of money people spend to purchase X changes as the price they must pay for it changes.
D) the amounts of X that would be bought each period, at each and any price, assuming other factors influencing demand (incomes, tastes, etc.) remain constant.
E) the amounts of X that would be bought each period if taxes were to go down
The horizontal axis of demand curve is Quantity demanded and the vertical ...
The solution answers the question(s) below.