Question

When the price of butter was "low," consumers spent $5 billion annually on its consumption. When the price doubled consumer expenditures increased to $7 billion. Recently you read that this means that the demand curve for butter is upward sloping. Do you agree? Explain.

Answer 1

I agree

Step-by-step explanation:

The demand for butter is increasing as price increases. This means the higher the price, the higher the quantity demanded. This is against the law of demand.

I hope my answer helps you