For a demand curve to be upward sloping, the product would have to be

Question

Quizplus · Accepted Answer

Typically, demand curves slope downward, indicating that as price decreases, quantity demanded increases. However, for a demand curve to slope upward, indicating that as price increases, quantity demanded also increases, the product must be an inferior good where the income effect of a price change is larger than the substitution effect. This means that when the price of the inferior good increases, the consumer feels poorer, leading them to buy more of the inferior good because they can't afford the more expensive substitutes, hence option D is correct.

For a Demand Curve to Be Upward Sloping, the Product