The Inverse Demand for a Good Is Given by P

question 24

True/False

The inverse demand for a good is given by p = 60 - 2q.Suppose that the number of consumers doubles.(For each consumer in the market another consumer with an identical demand function appears.)The demand curve shifts to the right, doubling demand at every price, while the slope of the demand curve stays unchanged.

---

Definitions:

Cloud-based

Describes applications, services, or resources made available to users on demand via the Internet from a cloud computing provider's servers.

DNS Services

Domain Name System services, which translate domain names into IP addresses, allowing users to access websites with human-readable names.

Internet of Things

A network of physical objects, devices, vehicles, buildings, and other items embedded with electronics, software, sensors, and network connectivity that enables these objects to collect and exchange data.

Botnet

A network of private computers infected with malicious software and controlled as a group without the owners' knowledge, e.g., to send spam messages.