The demand curve for apples is downward-sloping because
A) when fewer apples are produced, the money in people's apple budgets does not have to stretch as far.
B) there must have been an apple blight, so there must be fewer apples to buy.
C) when apple prices rise, the price of other goods must also be rising, so people cannot afford to buy as much.
D) at higher apple prices, people will seek other, relatively cheaper alternatives, like pears, oranges, or plums.
E) at higher prices, apples are more expensive to produce, so fewer are grown.
Correct Answer:
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Q1: The law of demand is violated when
Q3: The law of demand is represented by
A)the
Q4: Each supply and demand model consists of
Q5: According to the law of demand, if
Q6: Suppose you observe that fares per trip
Q7: The typical slope of a demand curve
A)is
Q8: The law of demand states that, as
Q9: The relationship between price and quantity demanded,
Q10: Which of the following is not held
Q11: The principle that consumers tend to buy
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