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.
An economic problem exists whenever ...
Which of the following is NOT a function of the IMF? ...
If the standard deviation of a set of numbers is 3.6, what is the variance? ...
A perfectly competitive firm is advised to close down when the ...
Which of the following is a motive for holding money? ...
The profit of a producer is the difference between ...
ECOWAS secretariat is located in ...
From the diagram, determine the profit-maximizing output ...
Which of the following source of income is spectacular only to Government? ...
The age distribution of a country's population is of economic importance because it affects the ...