Which of the Following Statements About the Demand Curve for a Typical

question 36

Multiple Choice

Which of the following statements about the demand curve for a typical good is the most accurate?

• A) It has an inverse slope because as the price goes up, the good has more profitability.
• B) It has a negative slope because consumer incomes fall as the price of the good rises.
• C) It has a negative slope because some consumers switch to other goods as the price rises.
• D) It has a negative slope because the good has less "snob appeal" as its price falls.

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Definitions:

Switzerland

A landlocked country in Central Europe known for its mountains, watches, neutrality, and high quality of life.

Electronic Commerce

The activities that use electronic communication in the inventory, promotion, distribution, purchase, and exchange of products and services. Also called e-commerce.

European Union

A political and economic union of 27 European countries that are tied by a single internal market which allows the free movement of goods, services, money, and people.

Multiple Languages

The availability or support of various languages in a software, platform, or educational material, catering to a diverse global audience.