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I. An increase in the price of the good induces consumers to purchase substitute products. .
II. An increase in the price of the good reduces consumer' purchasing power.
III. Law of Demand- Inverse relationship between price and quantity
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∙ 11y ago
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Is The aggregate demand curve downward sloping for the same reason that the demand curve for a single good is downward sloping?
true because it is still supply and demand downward sloping
Is the demand curve always downward sloping?
Yes,it's always downward sloping
How does a market demand curve differ from a demand curve How are they similar?
downward sloping
The law of demand is illustrated by a demand curve that is.......?
downward sloping
What is the shape of a market demand curve?
Usually market demand curves are downward sloping.
Is The aggregate demand curve downward sloping for the same reason that the demand curve for a single good is downward sloping?
true because it is still supply and demand downward sloping
Is the demand curve always downward sloping?
Yes,it's always downward sloping
How does a market demand curve differ from a demand curve How are they similar?
downward sloping
The law of demand is illustrated by a demand curve that is.......?
downward sloping
What is the shape of the market demand curve?
Usually market demand curves are downward sloping.
What is the shape of a market demand curve?
Usually market demand curves are downward sloping.
What is the demand curve faced by a pure monopolist?
The demand curve faced by a pure monopolist is of downward sloping in shape.
What does the law of demand suggest that most demand curves will be?
The law of supply predicts the supply curve will be upward sloping.
What is behind the demand curve?
Law of demand is behind the downward sloping of demand curve,i.e. inverse relationship between price and quantity demanded.
Which direction does the demand curve slope?
Is always negative. (should be in all caps for emphasis)
What happen to price when supply is constant and demand increaes?
prices will fall if demand decreases and the supply is constant. the supply curve will be vertical and demand curve will be downward sloping.
A firm in a monopolistically competitive market is similar to a monopolist in the sense that it?
faces a downward-sloping demand curve
