Answered

Westonci.ca is the ultimate Q&A platform, offering detailed and reliable answers from a knowledgeable community. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Assume nothing changes for a good except its price, which goes up. Because of the downward-sloping demand curve:

Select one:
A. People will buy less of the good's substitutes.
B. People will buy more of the good's complements.
C. None of the answers listed.
D. We will experience a change in demand.
E. We will experience a reduction in quantity demanded.

Sagot :

GinnyAnswer

Final answer:

The downward-sloping demand curve results in a reduction in quantity demanded as the price of a good increases.


Explanation:

The answer is e. We will experience a reduction in quantity demanded.

The downward-sloping demand curve indicates that as the price of a good increases, the quantity demanded decreases. This means that people will buy less of the good as its price goes up. In this scenario, there will be a reduction in the quantity demanded for the good affected by the price increase.


Learn more about Demand Curve and Quantity Demanded here:

https://brainly.com/question/34311874


We appreciate your visit. Hopefully, the answers you found were beneficial. Don't hesitate to come back for more information. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.