Which of the following is NOT a characteristic of a typical demand curve in microeconomics?

• A. It shows the relationship between price and quantity demanded
• B. It assumes all other factors except price are held constant (ceteris paribus)
• C. It slopes downward from left to right
• D. It is usually upward sloping due to the law of demand

Answer: (D)

Verified step by step guidance

1. Step 1: Understand what a demand curve represents in microeconomics. It shows the relationship between the price of a good and the quantity demanded by consumers.
2. Step 2: Recall the law of demand, which states that, ceteris paribus (holding all other factors constant), as the price of a good decreases, the quantity demanded increases, and vice versa.
3. Step 3: Recognize that because of the law of demand, the demand curve typically slopes downward from left to right, reflecting the inverse relationship between price and quantity demanded.
4. Step 4: Analyze the given options and identify that a demand curve being upward sloping contradicts the law of demand, making it NOT a characteristic of a typical demand curve.
5. Step 5: Conclude that the correct answer is the statement claiming the demand curve is usually upward sloping, as this is inconsistent with standard microeconomic theory.