The demand curve for a luxury good is
ECONOMICS
JAMB 2009
The demand curve for a luxury good is
- A. negatively sloped
- B. parallel to the price axis
- C. parallel to the quantity axis
- D. positively sloped
Correct Answer: D. positively sloped
Explanation
The demand for a luxury good upward and positively sloping. Meaning the demand increases as the price increases.
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