Suppose you can write generic supply and demand curves such that Q_S = A + BP and Q_D = D + CP.If consumers demand less as price rises,C must be A) positive B) negative C) 0

Question

Quizplus · Accepted Answer

If consumers demand less as price rises, there is an inverse relationship between price and quantity demanded. This means that C, the coefficient of price in the demand equation, must be negative.

Suppose You Can Write Generic Supply and Demand Curves Such