Four Points on a Demand Schedule Are Given: $12, 2

question 161

Multiple Choice

Four points on a demand schedule are given: $12, 2 units; $10, 1 unit; $15, 1.5 units; and $2, 4 units. Which combination is inconsistent with the law of demand?

• A)$12 and 2 units
• B)$10 and 1 unit
• C)$15 and 1.5 units
• D)$2 and 4 units

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Definitions:

Set of Equations

Refers to a collection of two or more equations with the same set of variables, which are to be solved simultaneously.

Graph

A diagram representing data visually using lines, bars, or other symbols.

Equation

A statement of the equality of two algebraic expressions.

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To prove or confirm that something is true, accurate, or genuine, often through the examination of evidence or conducting tests.