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The demand curve for a luxury good is

Economics
JAMB 2009

The demand curve for a luxury good is

  • A. negatively sloped
  • B. parallel to the price axis
  • C. parallel to the quantity axis
  • D. positively sloped
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Correct Answer: Option D
Explanation

The demand for a luxury good upward and positively sloping. Meaning the demand increases as the price increases.

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