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Author Question: A demand curve usually has a a. negative slope because price and quantity demanded are inversely ... (Read 152 times)

scienceeasy

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on: Jul 1, 2018
A demand curve usually has a
 a. negative slope because price and quantity demanded are inversely related
  b. negative slope because as price rises, demand falls
  c. positive slope because price and quantity demanded are positively related
  d. positive slope because price and quantity demanded are inversely related
  e. slope of zero because there is no change along a demand curve when everything else is held constant

Question 2

The income effect of an increase in the price of hominy grits (an inferior good) is a(n)
 a. decrease in the demand for hominy grits
  b. decrease in the quantity demanded of hominy grits
  c. increase in the demand for hominy grits
  d. increase in the quantity demanded of hominy grits
  e. new demand curve because everything else is no longer constant


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zhanghao

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


scienceeasy

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

komodo7

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Reply 3 on: Yesterday
Excellent

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