Question

The inverse relationship between price and quantity demanded can be graphically illustrated by ______. Multiple choice question. an upward sloping curve a vertical line a horizontal line a downward sloping curve

Answer 1

The inverse relationship between price and quantity demanded can be graphically illustrated by a downward sloping curve. Therefore, Option D is the correct statement.

What is the relationship between price and quantity?

The law of supply and demand is a keystone of present-day economics. According to this theory, the price of a good is inversely associated with the quantity offered.

This makes the experience for plenty of goods because the more high-priced it becomes, much fewer people could be capable of affording it and the demand will finally drop.

Therefore, The inverse relationship between price and quantity demanded can be graphically illustrated by a downward sloping curve. Option D is the correct statement.

learn more about law of demand:

brainly.com/question/10782448

#SPJ1