To determine what the chart illustrates, let's carefully analyze the provided data:
We have two columns in the demand schedule:
1. Price per Graphic Tee: This indicates the price the consumer has to pay for each T-shirt.
2. Quantity Demanded: This shows the amount of graphic T-shirts that consumers are willing to buy at each corresponding price.
The chart shows:
- At a price of \[tex]$5.00, consumers are willing to buy 50 T-shirts.
- At a price of \$[/tex]7.50, consumers are willing to buy 40 T-shirts.
- At a price of \[tex]$10.00, consumers are willing to buy 30 T-shirts.
- At a price of \$[/tex]12.50, consumers are willing to buy 20 T-shirts.
- At a price of \$15.00, consumers are willing to buy 10 T-shirts.
We need to decide what relationship this chart represents among the given options:
1. Interest in a product and the price a consumer pays.
2. Interest in a product and the price a producer pays.
3. Amount of a product and the price a consumer pays.
4. Amount of a product and the price a producer pays.
The chart clearly indicates the quantities demanded at various prices that consumers are willing to pay. This relationship is best described by option 3: the amount of a product and the price a consumer pays.
This relationship is commonly found in economics as the demand curve, which shows how much of a product consumers will purchase at different prices. Therefore, the chart illustrates the link between the amount of a product and the price a consumer pays.
So, the correct choice is:
3. Amount of a product and the price a consumer pays.
This is the most accurate description of the relationship depicted by the given demand schedule.
