If the demand curve is given by Q = a + bp, then b is
A) positive.
B) the quantity demanded when price is zero.
C) the change in quantity demanded if price changes by 1.
D) different at different points on the demand curve.
C
Economics
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If the inflation rate increases,
A) the real interest rate rises. B) real GDP growth increases. C) potential GDP increases. D) the nominal interest rate falls. E) the velocity of circulation increases.
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Which of the following statements is TRUE about contestable markets?
A) There are significant barriers to entry. B) Firms earn large economic profits. C) Each firm faces a perfectly elastic demand. D) There are few firms in the industry.
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