According to the Law of Demand, the demand curve for a good will
A: shift leftward when the price of the good increases.
B: slope downward.
C: shift rightward when the price of the good increases.
D: slope upward.
A: shift leftward when the price of the good increases.
B: slope downward.
C: shift rightward when the price of the good increases.
D: slope upward.
举一反三
- Good A and good B are substitutes in production. The demand for good A decreases, which lowers the price of good A. The decrease in the price of good A ( ) A: decreases the supply of good B: increases the supply of good C: decreases the demand for good D: increases the demand for good
- When your income increases, A: your budget line shifts rightward and its slope does not change. B: your budget line shifts leftward and its slope does not change. C: the slope of your budget line increases. D: the slope of your budget line decreases.
- The slope of the demand curve is not the same as the price elasticity of demand because the slope of a demand curve ( ) A: compares percentage changes in quantity demanded and price. B: compares absolute changes in quantity demanded and price. C: obeys the law of demand. D: is not constant when the demand curve is linear.
- For a horizontal demand curve, A: the slope is undefined, and the price elasticity of demand is equal to 0. B: the slope is equal to 0, and the price elasticity of demand is undefined. C: both the slope and price elasticity of demand are undefined. D: both the slope and price elasticity of demand are equal to 0.
- According to the Law of Demand, the demand curve for a good will