Introduction to Economics 1 Deneme Sınavı Sorusu #589925

Which of the following can be the correct demand curve for the toasts sold at the school canteen according to ‘the law of demand’?



Yanıt Açıklaması:

The law of demand states that there is a negative, or inverse, relationship between the price of a good and the quantity of that good demanded (assuming that all other factors stay unchanged). In our case, if the price of the toasts sold at the canteen decreases, the number of the toasts will increase. This inverse relationship indicates that the demand curves slope downward. That is, they are normally convex to the origin. The correct answer is B.

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