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Answer to Question #154622 in Microeconomics for Karan Bisht

Question #154622

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


1
Expert's answer
2021-01-12T07:43:36-0500

Demand function ;Qdx=100"-" 10Px


Having the price of commodity X to be Px=7


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


Qdx=100"-" 10(7)


Qdx=100− 70


Qdx=30


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