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:

Oligopolies

A market structure characterized by a small number of large firms that dominate the market, often leading to limited competition.

Technological Advances

Innovations and improvements in technology that increase productivity and efficiency in the production process.

Herfindahl-Hirschman Index

A measure used to assess the level of market concentration and competition among firms in an industry.

National CineMedia

A cinema advertising company that operates in the United States, providing in-theatre advertising and promotional products.