Answer to Question #154622 in Microeconomics for Karan Bisht

Question #154622

Qdx=100-10Px, Find the commodity of X demanded, if Px=7

Expert's answer

Demand function ;Qd_x=100"-" 10P_x

Having the price of commodity X to be P_x=7

Therefore we substitute 7 in the place of P_x in the demand function.

Qd_x=100"-" 10(7)

Qd_x=100− 70

Qd_x=30

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