If the Demand Curve Is Given by Q = a

question 65

Multiple Choice

If the demand curve is given by Q = a + bp, then a is

• A)negative.
• B)the quantity demanded when price is zero.
• C)the slope of the demand curve.
• D)measured in money.

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Definitions:

Social Diffusion

The process by which attitudes, innovations, or behaviors spread within a population or social network.

Reference Group

Any group that individuals use as a standard for evaluating their own behavior, values, or attitudes, influencing decision-making and perceptions.

Attributes

Characteristics or features of a product, person, or thing, often considered in evaluation or decision-making.

Trickle-down Theory

An economic hypothesis that posits that benefits granted to the wealthy will eventually trickle down to the poorer members of society, improving the economy as a whole.