Answer to Question #256082 in Microeconomics for Ryan Moran

Question #256082

An increase in the price of a product if demand is downward sloping will lead to


1
Expert's answer
2021-10-25T09:37:54-0400

If demand curve is downward sloping then an increase in the price of a product will lead to decrease in its quantity demanded. It is because a smaller quantity will be demanded at higher price.






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