The Slope of the Demand Curve for a Normal Good

question 77

True/False

The slope of the demand curve for a normal good must be positive.

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Definitions:

Slightly Elastic

Refers to a situation where a small change in price leads to a relatively small change in the quantity demanded or supplied.

Very Inelastic

Describes a situation where demand or supply hardly changes in response to changes in price.

Tax

A required financial imposition or alternative type of duty enforced on a taxpayer by a governing body to support government funding and assorted public expenses.

Tax

An obligatory monetary contribution or another kind of charge levied on a taxpayer by a government authority for the purpose of funding government operations and diverse public costs.