Question
A graph titled Demand Curve has Quantity Demanded on the x-axis, from 0 to 60 in increments of 10, and Price on the y-axis, from 0 to 20 dollars in increments of 2 dollars and 50 cents. The line has a negative slope.
What principle does this demand curve demonstrate?
quantity demanded increases as prices decrease
quantity demanded increases as prices increase
prices decrease as quantity demanded decreases
prices remain the same as quantity demanded increases
What principle does this demand curve demonstrate?
quantity demanded increases as prices decrease
quantity demanded increases as prices increase
prices decrease as quantity demanded decreases
prices remain the same as quantity demanded increases
Answers
GPT-4o mini
The demand curve you described demonstrates the principle that **quantity demanded increases as prices decrease**. This negative slope indicates that as the price of a good or service decreases, consumers are willing to purchase more of it, reflecting the inverse relationship between price and quantity demanded.