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Dvinal [7]
3 years ago
7

Explain how a​ downward-sloping demand curve results from consumers adjusting their consumption choices to changes in price.

Business
1 answer:
Ksju [112]3 years ago
8 0

Answer:

See below

Explanation:

Demand is the quantity of a product or service that customers are willing to purchase from the market at a specific price. According to the law of demand, there is an inverse relationship between price and demand for a product. Should the price of a commodity or service increase, its demand decreases.

The demand curve is downward sloping. The price is indicated on the Y-axis and quantity on the X-axis. The demand curve originates from the top left corner, where the price is highest and the demand at its lowest. As the curve slope downwards, it shows how quantity increases as the price decreases.

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Determine whether the following bonds payable will be issued at face​ value, at a​ premium, or at a​ discount:

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8 0
4 years ago
Which of the following statements is true?
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Answer:

The correct answer is option c.

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An oligopoly market is a form of imperfect competition where there are a few firms. These firms can produce identical or differentiated products. Because of a few firms in the market, there is a high degree of competition in the market.  

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The firms are price makers and face a downward-sloping demand curve.

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