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A downward sloping demand curve means that

Economics
JAMB 2022

A downward sloping demand curve means that

  • A. total revenue declines as price is lowered
  • B. demand falls as output increases
  • C. demand falls as output falls
  • D. price must be lowered to sell more
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Correct Answer: Option D
Explanation

A downward sloping demand curve means there is an inverse or negative relationship between price and quantity demanded i.e the higher the price, lower the quantity demanded and vice versa

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Project Topics and Materials, Post-UTME past questions - Download now or upload yours to get paid
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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