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.

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The Answer of 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.

The Inverse Demand for a Good Is Given by P