Exhibit 1A-5 Straight Line

question 33

Multiple Choice

Exhibit 1A-5 Straight line

-In Exhibit 1A-5,the slope of straight line A-D is:

• A)positive.
• B)zero.
• C)negative.
• D)variable.

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, resulting in a market balance.

Substitute

A product or service that can be used in place of another to satisfy similar needs or demands.

Industry Entry

The process of a new competitor or business entering into a market or industry.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices at a given time.