Multiple Choice
The demand curve for a typical good has
A) a negative slope because some consumers switch to other goods as the price of the good rises.
B) a negative slope because the supply of the good rises as demand rises.
C) a negative slope because the good has less "snob appeal" as its price falls.
D) an inverse slope because as the price goes up, the good has more profitability.
E) a positive slope because price is a clear indicator of need.
Correct Answer:
Verified
Correct Answer:
Verified
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