The law of demand is illustrated by a demand curve that is

Question

Quizplus · Accepted Answer

The law of demand states that when the price of a good or service increases, the quantity demanded decreases, holding other factors constant. This relationship is illustrated by a downward sloping demand curve where the vertical axis represents the price and the horizontal axis represents the quantity demanded. As the price decreases, the quantity demanded increases, and vice versa. Therefore, the correct choice is E, downward sloping.

The Law of Demand Is Illustrated by a Demand Curve