A Demand Curve

question 250

Multiple Choice

A demand curve

• A) has an upward slope.
• B) has a downward slope.
• C) is a graph of the relationship between quantity demanded of a good and its price.
• D) Both answers B and C are correct.
• E) Both answers A and C are correct.

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Definitions:

Median

A statistical measure representing the middle value in a set of numbers, which divides the data into two equal halves.

Mean

An average of a group of values, computed by dividing the sum of the group of values by the number of values in the group.

Frequency Distribution

A mathematical function showing the number of instances in which a variable attains each of its possible values.

Histogram

A diagram that presents the grouped data from a frequency table.