Practice prompt · Q:economics-and-market-foundations/audit-demand-curve-001

Audit a supplied demand curve

Check function form, units, controls, domain, provenance, and claim boundary before using a clean curve as evidence.

Updated Sep 11, 2026 Review due Nov 7, 2026

Practice

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A workbook supplies Qd = 1,400 - 10P but contains no transaction data or estimation record. How should an analyst use and describe the curve?

Choose the best answer. a Because the worksheet reproduces the line, every point is an observed transaction and the slope is a causal estimate. b Label the curve stipulated, state product, period, price and quantity units, held-constant determinants and valid domain, then identify data and design needed before treating the slope as an estimate or cause. c Reject the curve because no simplified model can support any valid comparison.

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Answer: b

Choice b. Audit whether the curve is stipulated, calibrated, or estimated, preserve its units and domain, and separate reproducible model implication from empirical and causal claims.