The demand curve represents which economic metric?

The demand curve represents the marginal benefit that consumers receive from purchasing additional units of a good or service. As consumers evaluate their willingness to pay for different quantities, the demand curve illustrates the maximum price they are willing to pay for each additional unit. This reflects the additional satisfaction or benefit — known as marginal benefit — that consumers derive from each unit consumed.

When these benefits decrease with each additional unit (as is typically the case due to the law of diminishing marginal utility), the demand curve slopes downward. Thus, at lower prices, consumers are more likely to buy more of the good because the price aligns with the perceived value or benefit they receive from that additional consumption. Consequently, the demand curve is inherently tied to consumer preferences and the associated benefits they gain, clearly illustrating the concept of marginal benefit.