Assume that Jose,Kaitlyn,Leah,and Maria are the only buyers in this market.
-Refer to Exhibit 3-13.Each individual consumer's demand curve is ________________ sloping and the market demand curve is _________________ sloping.
A) upward; also upward
B) downward; also downward
C) upward; downward
D) downward; upward

Question

Assume that Jose,Kaitlyn,Leah,and Maria are the only buyers in this market.
-Refer to Exhibit 3-13.Each individual consumer's demand curve is ________________ sloping and the market demand curve is _________________ sloping.
A) upward; also upward 
B) downward; also downward 
C) upward; downward 
D) downward; upward

Quizplus · Accepted Answer

Individual consumer demand curves and the market demand curve both slope downward due to the law of demand, which states that as the price of a good decreases, the quantity demanded increases, and vice versa.

Assume That Jose,Kaitlyn,Leah,and Maria Are the Only Buyers in This