If the Demand Curve Is a Straight Line and Has

question 37

Multiple Choice

If the demand curve is a straight line and has the normal negative slope,then as quantity demanded increases,demand

• A)becomes more elastic
• B)becomes more inelastic
• C)is unitary elastic
• D)rises and then falls
• E)is an inverse function of supply

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Definitions:

Poisson Distribution

A statistical distribution describing the likelihood of a certain number of events taking place within a specific time or space interval, given that these events happen at a fixed average rate and are independent of the timing of the previous event.

Variance

A statistical measure that represents the degree of spread or dispersion of a set of data values around their mean.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values.

Poisson Distribution

A probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space, assuming these events happen with a known constant rate and independently of the time since the last event.