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Question
State whether the following statement is TRUE and FALSE
Demand curve slopes upward from left to right.
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Solution
FALSE
The demand curve is the graphical representation of the relationship between the demand for a good and its price for a given income, price of related goods, tastes and preferences. This curve slopes downwards from left to right because of the negative relationship between the price of the commodity and its demand. In the diagram below, DD is the demand curve.
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