According to the Law of Demand, the demand curve for a good will (choose all correct answers):

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BlackTom AI · Accepted Answer

The question asks about the Law of Demand and what happens to the demand curve for a good when considering price and movement along versus shifting the curve.
Option a: 'Slope downward' — This matches the standard depiction of the demand curve: as price falls, quantity demanded rises, and as price rises, quantity demanded falls. That results in a downward-sloping curve when price is on the vertical axis and quantity demanded on the horizontal axis. 
Option b: 'Shift leftward when the price of the good increases' — A change in price causes a movement along the demand curve, not a shift of the curve itself. A price increase would typically cause a movement upward along the curve to a higher price and lower quantity demanded, but the curve does not shift merely due to a price change. A shift would occur due to non-price determinants like income, preferences, or prices of related goods. Therefore, this statement is incorrect as a description of the Law of Demand.
Option c: 'Shift rightward when the price of the good increases' — Similar to option b, a price increase does not shift the entire demand curve rightward; it causes movement along the curve. A rightward shift would imply an increase in quantity demanded at every price due to factors other than the price change (e.g., population growth, taste changes), not the price itself. Thus, this option misstates how price interacts with the demand curve.
Option d: 'Slope upward' — An upward-sloping demand curve would imply that higher prices lead to higher quantity demanded, which contradicts the Law of Demand. This would be a violation of the basic inverse relationship between price and quantity demanded, so this option is incorrect.
In summary, each wrong option misattributes the effect of a price change to a shift or to an opposite slope, whereas the Law of Demand describes movement along a downward-sloping curve due to price changes, with shifts caused by non-price determinants rather than price itself.

According to the Law of Demand, the demand curve for a good will (choose all correct answers):

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