Possible Causes of an Upward-Sloping Demand Curve Are:​

question 99

Multiple Choice

Possible causes of an upward-sloping demand curve are:​

• A)​consumers judge the quality of a product based on quality 
• B)​consumers judge the quality of a product based on price 
• C)​consumers purchase a product based on snob appeal 
• D)​a and b are true 
• E)​b and c are true

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Definitions:

Units

A standard measure or quantity used to specify or quantify the amount of a product, service, or resource.

Prices

The amount of money required to purchase goods or services.

Marginal Cost

The additional cost incurred by producing one more unit of a product or service, crucial for economic and pricing decisions.

Marginal Revenue

The additional income received from selling one more unit of a product or service.