To determine which statement the chart supports, let's analyze each of the provided options carefully and see which fits the given data best.
The chart provided is a demand schedule, which primarily shows the relationship between two variables:
- Price per Graphic Tee
- Quantity Demanded
Now let's look at the meaning of each potential statement:
1. Interest in a product and the price a consumer pays:
- This implies that the chart shows some measure of consumer interest relative to the price they pay. However, the chart shows specific quantities demanded, rather than a vague or qualitative measure of interest.
2. Interest in a product and the price a producer pays:
- This implies that the chart would show how the interest in graphic tees (perhaps from retailers) affects the price paid by producers. This scenario involves producers, which is not in the context of the given data.
3. Amount of a product and the price a consumer pays:
- This directly aligns with the purpose of a demand schedule, as it shows the amount of graphic tees (quantity demanded) at different price points that consumers are willing to pay for.
4. Amount of a product and the price a producer pays:
- This would mean the chart deals with the amount produced and the price producers pay, which is not covered in the given demand schedule.
Upon reviewing the options, the correct statement should align with the concept of a demand schedule as taught in basic economics. The demand schedule reflects the quantities of a good that consumers are willing to purchase at various price points.
So, the most appropriate statement supported by the chart is:
Amount of a product and the price a consumer pays.
