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Assume nothing changes for a good except its price, which goes up. Because of the downward-sloping demand curve:

Select one:
A. People will buy less of the good's substitutes.
B. People will buy more of the good's complements.
C. None of the answers listed.
D. We will experience a change in demand.
E. We will experience a reduction in quantity demanded.



Answer :

GinnyAnswer

Final answer:

The downward-sloping demand curve results in a reduction in quantity demanded as the price of a good increases.


Explanation:

The answer is e. We will experience a reduction in quantity demanded.

The downward-sloping demand curve indicates that as the price of a good increases, the quantity demanded decreases. This means that people will buy less of the good as its price goes up. In this scenario, there will be a reduction in the quantity demanded for the good affected by the price increase.


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