If the demand curve is given by Q = a + bp, then b is
A)positive.
B)the quantity demanded when price is zero.
C)the change in quantity demanded if price changes by 1.
D)different at different points on the demand curve.

Question

Quizplus · Accepted Answer

The equation Q = a + bp represents a linear demand curve, where Q is the quantity demanded, p is the price, a is the intercept (quantity demanded when price is zero), and b is the slope of the demand curve. As price changes, quantity demanded changes by b units (the change in quantity demanded if price changes by 1). Therefore, option C is the correct choice. Options A, B, and D are incorrect.

If the Demand Curve Is Given by Q = a