Asked by Denise Rodriguez on Jul 21, 2024
Verified
The demand curve is the upward-sloping line relating price and quantity demanded.
Demand Curve
A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers over a range of prices.
Upward-Sloping
Characteristic of a curve on a graph that demonstrates an increase in one variable as another variable increases, often seen in supply curves.
- Familiarize oneself with the association between demand and supply curves and their alterations.
Verified Answer
AE
Ajitha EbenezerJul 23, 2024
Final Answer :
False
Explanation :
The demand curve is typically downward-sloping, indicating that as the price decreases, the quantity demanded usually increases.
Learning Objectives
- Familiarize oneself with the association between demand and supply curves and their alterations.
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