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WAEC Economics 2018 Question 6

Question 6

Theory of Demand

A downward sloping demand curve means that

  1. A.total revenue declines as price is lowered.
  2. B.demand falls as output rises.
  3. C.demand falls as output falls.
  4. D.price must be lowered to sell more.
Show the answer and explanation

Answer: D (price must be lowered to sell more.)

Explanation

More is bought only at a lower price.