To Test Whether the Law of Demand Holds Using Calculus

question 91

Multiple Choice

To test whether the law of demand holds using calculus, you should:

• A) take the partial derivative of quantity demanded Q^D with respect to P and conclude that the law of demand holds if this derivative is positive at the market price.
• B) take the partial derivative of quantity demanded Q^D with respect to P and conclude that the law of demand holds if this derivative is negative at the market price.
• C) take the derivative of P with respect to quantity demanded Q^D and conclude that the law of demand holds if this derivative is positive at the market price.
• D) take the derivative of P with respect to quantity demanded Q^D and conclude that the law of demand holds if this derivative is negative at the market price.

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Definitions:

Subject

The person, place, thing, or idea that is being discussed or described in a sentence, or the area of study one focuses on.

Proposition

A statement or assertion that expresses a judgment or opinion.

Equivalent Propositions

Statements that are logically the same, in that they have the same truth value in every model or situation.

Meaning

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