A Nigerian household demand curve for semovita is downward sloping because
Question 1 Report
A Nigerian household demand curve for semovita is downward sloping because
Answer Details
The Nigerian household demand curve for semovita is downward sloping because the higher the price of semovita, the lower the quantity demanded. This means that when the price of semovita is high, households will demand less of it. This is because as the price of semovita increases, it becomes relatively more expensive compared to other substitute food items, and households may switch to those substitutes or reduce their overall consumption of semovita. Therefore, the demand curve for semovita slopes downwards, indicating an inverse relationship between price and quantity demanded.
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