can demand curve slope upward
Answers
Answer:
As described above, the general form of a demand curve is that it is downward sloping. ... There may be rare examples of goods that have upward sloping demand curves. A good whose demand curve has an upward slope is known as a Giffen good.
Answer:
As described above, the general form of a demand curve is that it is downward sloping. ... There may be rare examples of goods that have upward sloping demand curves. A good whose demand curve has an upward slope is known as a Giffen good.
It simply indicates how much the line rises per unit move to the right or how much it goes down as we move to the right. The former (an upward rising curve) is said to have a positive slope while the latter (a downward sloping curve) has a negative slope. Thus, the slope of a demand curve is ∆P/∆Q.