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Depending on the characteristics of the market, the demand curve may be linear, convex or concave as illustrated below. The downward shape of a demand curve indicates that, as price decreases, customers will demand more of a product. The slope of the demand curve illustrates how the quantity of demand changes with the price. A steeper demand curve implies that demand is less sensitive to price increases.

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Source: EUR-Lex (Cellar) · retrieved 2026-09-25 · Text as adopted (Official Journal); later amendments are not incorporated in this text.