The Demand Curve for a Good Is Given by P

question 45

Multiple Choice

The demand curve for a good is given by p = 60 - 8q, where p is the price and q is the quantity of the good. Suppose that the number of consumers in the economy doubles; a "clone" of each consumer, who has exactly the same demand curve as the original consumer, appears. The demand curve for the doubled economy is described by

• A) p = 60 - 16q.
• B) p = 120 - 8q.
• C) p = 60 - 4q.
• D) p = 120 - 16q.
• E) p = 30 - 4q.