Movement from the Lower to the Upper Range of a Downward-Sloping

question 7

Multiple Choice

Movement from the lower to the upper range of a downward-sloping straight-line demand curve indicates that demand is becoming

• A)easier to estimate.
• B)more inelastic.
• C)harder to estimate.
• D)more elastic.

---

Definitions:

Equilibrium Price

The price at which the quantity of a product demanded by consumers equals the quantity supplied by producers, leading to market balance.

Buyers

Entities or persons that buy products or services.

Sellers

Individuals or entities that offer goods or services for sale to consumers or other businesses in the market.

Expected

Refers to the anticipated outcome, value, or occurrence based on probability or prior evidence.