question 14 (1 point) the law of demand: a) underlies the supply curve and explains its upward slope. b)…

question 14 (1 point) the law of demand: a) underlies the supply curve and explains its upward slope. b) underlies the demand curve and explains its downward slope. c) exists due to self - interest, and therefore must be immoral. d) is based on the behavior of the new soviet man that marxists believed would come into existence after socialism was up and running.

question 14 (1 point) the law of demand: a) underlies the supply curve and explains its upward slope. b) underlies the demand curve and explains its downward slope. c) exists due to self - interest, and therefore must be immoral. d) is based on the behavior of the new soviet man that marxists believed would come into existence after socialism was up and running.

Answer

Brief Explanations:

The Law of Demand states that, ceteris paribus, as the price of a good or service increases, the quantity demanded decreases and vice - versa. This relationship gives the demand curve its downward slope. It has nothing to do with the supply curve's upward slope, nor is it immoral, and it is not related to the concept of the New Soviet Man.

Answer:

B. underlies the Demand Curve and explains its downward slope.