WAEC Economics 2018 Objective — Question 6
Question 6 of 50 from the West African Examinations Council (WAEC) Economics 2018 Objective paper, with the correct answer and a full explanation.
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A downward sloping demand curve means that
- A. total revenue declines as price is lowered
- B. demand falls as output rises
- C. demand falls as output falls
- D. price must be lowered to sell moreCorrect
Explanation
A downward-sloping demand curve shows that more is sold at lower prices — i.e. price must be lowered to sell more.
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