Multiple Choice
If price is on the vertical axis and quantity demanded is on the horizontal axis,why is a demand curve downward sloping (left to right) ?
A) Because a demand curve is the graphical representation of the law of demand,which specifies an inverse relationship between price and supply,ceteris paribus.
B) Because a demand curve is the graphical representation of the law of demand,which specifies a direct relationship between price and quantity supplied,ceteris paribus.
C) Because a demand curve is the graphical representation of the law of demand,which specifies an inverse relationship between price and demand,ceteris paribus.
D) Because a demand curve is the graphical representation of the law of demand,which specifies a direct relationship between price and demand,ceteris paribus.
E) Because a demand curve is the graphical representation of the law of demand,which specifies an inverse relationship between price and quantity demanded,ceteris paribus.
Correct Answer:
Verified
Correct Answer:
Verified
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Q145: Resource X is necessary to the production
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Q147: Resource X is necessary to the production
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