According to the Law of Demand,the demand curve for a good will
A) shift leftward when the price of the good increases.
B) shift rightward when the price of the good increases.
C) slope downward.
D) slope upward.

Question

Quizplus · Accepted Answer

The Law of Demand states that when the price of a good increases, the quantity demanded of that good decreases, resulting in a downward-sloping demand curve. Therefore, option C is the correct answer. Option A is incorrect because a price increase would cause a leftward shift in the supply curve, not the demand curve. Option B is incorrect because an increase in price does not cause a rightward shift in the demand curve. Option D is incorrect because an upward-sloping demand curve would violate the Law of Demand.

According to the Law of Demand,the Demand Curve for a Good