Explain the reasons for negative slope of demand curve.
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prefer to it child
Explanation:
It has a negative slope because the two important variables price and quantity work in opposite direction. ... The consumer, therefore, will purchase more units of that commodity only if its price falls. Thus a decrease in price brings about an increase, in demand. The demand curve, therefore, is downward sloping.
Answered by
2
Answer:
It has a negative slope because the two important variables price and quantity work in opposite direction. ... The consumer, therefore, will purchase more units of that commodity only if its price falls. Thus a decrease in price brings about an increase, in demand. The demand curve, therefore, is downward sloping.
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