A downward-sloping demand curve reflects
A) the idea that the demand for the good in question is decreasing as time goes by.
B) the idea that there are fewer suppliers of the good as time goes by.
C) the idea that there exists a substitute for the good in question and the price of that substitute is decreasing.
D) the law of demand.
Correct Answer:
Verified
Q32: The negative relationship between price and quantity
Q53: Two goods are substitutes if a decrease
Q55: Which of the following statements about people's
Q57: Ford Motor Company announces that it will
Q59: Suppose today people change their expectations about
Q61: What will happen in the rice market
Q62: The line that relates the price of
Q63: The line that relates the price of
Q82: A likely example of substitute goods for
Q189: You lose your job and,as a result,you
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents