Questions: Multiple Choice Question When the product price falls from 80 to 60, the quantity demanded rises from 500 to 800 units. The slope in this range is: -0.29. -0.067 0.46. -15.

The answer is the last one: \(-15\).

To find the slope of the demand curve in this range, we use the formula for the slope of a line, which is the change in quantity demanded divided by the change in price:

\[ \text{Slope} = \frac{\Delta Q}{\Delta P} \]

Where:

• \(\Delta Q\) is the change in quantity demanded.
• \(\Delta P\) is the change in price.

Given:

• Initial price \(P_1 = \$80\)
• Final price \(P_2 = \$60\)
• Initial quantity demanded \(Q_1 = 500\)
• Final quantity demanded \(Q_2 = 800\)

Calculate the changes:

• \(\Delta Q = Q_2 - Q_1 = 800 - 500 = 300\)
• \(\Delta P = P_2 - P_1 = 60 - 80 = -20\)

Now, substitute these values into the slope formula:

\[ \text{Slope} = \frac{300}{-20} = -15 \]

Explanation for each option:

• \(-0.29\): Incorrect. This does not match the calculated slope.
• \(-0.067\): Incorrect. This does not match the calculated slope.
• \(0.46\): Incorrect. This does not match the calculated slope.
• \(-15\): Correct. This matches the calculated slope.

In summary, the slope of the demand curve in this range is \(-15\).