Demand curve is _____ sloping
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9. A price-taking firm faces a A) perfectly inelastic demand. B) downward-sloping marginal revenue curve. downward-sloping supply curve. perfectly elastic demand. E) downward-sloping demand curve. D)
Explain why demand curve is downward-sloping while supply curve is upwards sloping.
24) Assume that the leather market is a perfectly competitive market. The market demand curve for and each individual leather producer's demand curve is A) vertical; downward sloping B) downward sloping, horizontal C) horizontal, downward sloping D) downward sloping; vertical E) horizontal; horizontal