Which of the Following Is Assumed Constant Along the Demand

question 9

Multiple Choice

Which of the following is assumed constant along the demand curve for gasoline?

• A) the price of gasoline and the prices of related goods
• B) the price of gasoline,buyers' incomes,and tastes
• C) all variables affecting demand other than the price of gasoline
• D) all variables affecting demand other than the supply of gasoline
• E) buyers' incomes and tastes,but not the prices of related goods

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Definitions:

Qualitative Variables

Variables that express descriptive, non-numerical qualities or categories.

Indicator Variables

Indicator variables, also known as dummy variables, are numeric variables used in statistical models to represent categorical data, with values typically 0 or 1 indicating the absence or presence of a characteristic.

Regression Model

A regression model is a statistical approach used to describe the relationship between a dependent variable and one or more independent variables.

Multiple Regression

A statistical technique that models the relationship between a dependent variable and two or more independent variables.