The demand curve for a typical good has a(n):
A. negative slope because some consumers switch to other goods as the price rises.
B. negative slope because consumer incomes fall as the price of the good rises.
C. negative slope because the good has less "snob appeal" as its price falls.
D. inverse slope because as the price goes up, the good has more profitability.
Answer:A
The demand curve for a typical good has a(n):
A. negative slope because some consumers switch to other goods as the price rises. B. negative slope because consumer incomes fall as the price of the good rises. C. negative slope because the good has less "snob appeal" as its price falls. D. inverse slope because as the price goes up, the good has more profitability.
Explanation: Type: Multiple Choice Difficulty: Easy Category: Understand