The demand curve for apples slopes downward
A) because supply and demand are equal in equilibrium
B) since producers supply more when consumers demand more
C) because people are assumed to be basically greedy
D) because the law of demand holds in the market for apples
E) because apples are preferred to all other goods

Question

Quizplus · Accepted Answer

The law of demand states that as the price of a good increases, the quantity demanded of that good decreases, and vice versa. This is the reason why demand curves generally slope downward.

The Demand Curve for Apples Slopes Downward