Asked by Sulema Benavides on May 16, 2024
Verified
The slope of the demand curve for a normal good must be positive.
Demand Curve
A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers.
- Absorb the primary tenets of supply and demand interactions, including transformations in curves influenced by external circumstances.
Verified Answer
KM
Keirstyn MondileMay 16, 2024
Final Answer :
False
Explanation :
The slope of the demand curve for a normal good must be negative. This is because as the price of the good increases, the quantity demanded decreases, and as the price decreases, the quantity demanded increases, resulting in a downward-sloping demand curve.
Learning Objectives
- Absorb the primary tenets of supply and demand interactions, including transformations in curves influenced by external circumstances.
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