The vertical axis on the demand and supply curves for an individual good measures the price in dollars.
What is a demand and supply curves?
In economics, the Demand and supply can be plotted as curves and the point at which the two curves meet is known as the market quantity supplied.
On the curve, the horizontal axis measures quantity in units and the vertical axis measures price in dollars.
As, the demand curve is a downward-sloping and the supply curve is an upward-sloping, hence, the vertical axis on the demand and supply curves for an individual good measures the price in dollars.
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