Question and answer
The demand curve is downward sloping because A. as the price of the good rises, the quantity demanded falls. B. the law of demand states that as price increases, consumers are willing and able to purchase less. C. A and B D. None of the above
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Asked 12/11/2015 12:50:14 PM
Updated 3/29/2017 11:16:44 AM
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Flagged by Wallet.ro [3/29/2017 11:14:39 AM]
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User: The demand curve is downward sloping because A. as the price of the good rises, the quantity demanded falls. B. the law of demand states that as price increases, consumers are willing and able to purchase less. C. A and B D. None of the above

Weegy: Your question has already been answered. Please ask another question. Thank you for your time.
jhkl|Points 20|

User: Which of the following factors will increase the demand for a product? A. a change in the number of producers in the industry B. a favorable change in consumers' tastes C. a decrease in the price of a substitute good D. a decrease in population

Question
Asked 12/11/2015 12:50:14 PM
Updated 3/29/2017 11:16:44 AM
2 Answers/Comments
This conversation has been flagged as incorrect.
Flagged by Wallet.ro [3/29/2017 11:14:39 AM]
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8
The demand curve is upward sloping because as the price of a good increases, the quantity demanded decreases. FALSE.
Added 3/29/2017 11:14:34 AM
This answer has been confirmed as correct and helpful.
Confirmed by Andrew. [3/29/2017 8:57:15 PM]
8
A favorable change in the consumers' tastes will increase the demand for a product.
Added 3/29/2017 11:16:44 AM
This answer has been confirmed as correct and helpful.
Confirmed by Andrew. [3/29/2017 8:57:27 PM]
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Questions asked by the same visitor
The main reason that testing theories is more difficult in economics than in the physical sciences is A. the difficulty in performing an experiment on an economic system. B. the difficulty in devising an experiment. C. the difficulty in evaluating the results of an experiment. D. the difficulty in developing a theory of the economy.
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Updated 11/27/2016 6:01:10 AM
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The main reason that testing theories is more difficult in economics than in the physical sciences is: the difficulty in performing an experiment on an economic system.
Added 11/27/2016 6:01:10 AM
This answer has been confirmed as correct and helpful.
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