Which of the following shows why individual demand curve for a good usually slopes downward...
ECONOMICS
JAMB 2023
Which of the following shows why individual demand curve for a good usually slopes downward from left to right?
- A. More of commodities are offered for sale at a lower than higher prices
- B. Marginal utility falls as consumption increases
- C. The higher the price, the higher the quantity offered for sale
- D. Prices are usually falling when demand is low
Correct Answer: A. More of commodities are offered for sale at a lower than higher prices
Explanation
A normal demand curve slopes downward from left to right indicating at higher price, less quantity will be demanded and vice versa.
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