A downward sloping demand curve indicates that
A) individuals all have the same valuation of the same product.
B) individuals have different valuations of the same product.
C) individuals have no valuations of a particular product.
D) certain individuals are uninformed about certain aspects of the product.

Question

Quizplus · Accepted Answer

A downward sloping demand curve indicates that as the price of a product decreases, consumers are willing to buy more of it because they value it more. This means that different individuals have different valuations of the same product, leading to a decrease in demand as the price increases.

A Downward Sloping Demand Curve Indicates That