A downward sloping demand curve means that
...A downward sloping demand curve means that
Total revenue declines as price is lowered
Demand falls as output increases
Demand falls as output falls
Price must be lowered to sell more
Correct answer is D
A downward sloping demand curve means there is an inverse or negative relationship between price and quantity demanded i.e the higher the price, lower the quantity demanded and vice versa.
Government fixing of prices below the equilibrium point is aimed at protecting the ...
International trade is necessary because ...
The situation whereby government revenue is less than government expenditure is referred to as ...
Import substitution industrialization refers to ...
A rising short-run average cost is a result of ...
If the standard deviation of a given data is 53, what is the variance? ...
If high unemployment goes hand in hand with rising prices, the situation created is ...
Which of the following is not a feature of a perfect market? ...