WAEC Economics 2018 Objective — Question 9
Question 9 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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An exceptional demand curve can result from
- A. increase in price of raw materials
- B. increase in the size of the population
- C. expectation of future price increaseCorrect
- D. change in taste of the consumer
Explanation
An exceptional (upward-sloping) demand curve can arise when consumers expect prices to rise further, prompting them to buy more now despite the current higher price.
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