Multiple Choice
Which one of the following statements is FALSE?
A) There is an inverse relationship between product price and quantity demanded.
B) The equilibrium price is the price that clears the market.
C) The substitution and income effects account for the downward slope of the demand curve.
D) For any given product, the slope of the supply curve will match the slope of the demand curve.
Correct Answer:
Verified
Correct Answer:
Verified
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