It said "demand curves always slope downwards". They don't, with Veblen goods in the spec, so the answer is wrong. However, they are drawn with all other factors apart from price remaining constant (so you get price vs quantity)
It said "demand curves always slope downwards". They don't, with Veblen goods in the spec, so the answer is wrong. However, they are drawn with all other factors apart from price remaining constant (so you get price vs quantity)
It said "demand curves always slope downwards". They don't, with Veblen goods in the spec, so the answer is wrong. However, they are drawn with all other factors apart from price remaining constant (so you get price vs quantity)
If it said in the question, "demand curves always slope downwards" then they want you to ignore the extreme cases the demand curve can be e.g. Giffen and Veblen goods
If it said in the question, "demand curves always slope downwards" then they want you to ignore the extreme cases the demand curve can be e.g. Giffen and Veblen goods