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Question
The demand curve is generally ______.
Options
Downward sloping
Upward sloping
Horizontal parallel to the X-axis
Vertical parallel to the Y-axis
Solution
The demand curve is generally downward sloping.
Explanation:
The demand curve is generally downward-sloping. This reflects the law of demand, which states that, all else being equal, as the price of a good decreases, the quantity demanded increases, and vice versa. This negative relationship between price and quantity demanded results in a downward-sloping demand curve.
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