Answer to Question #233230 in Microeconomics for Lister Nanzumwa

Question

Specifically the price of tickets between Lusaka and Livingston’s increased from 200 kwacha to 250 kwacha . The demand equation is Qd =200-5p. Calculate the old price quantity demanded and the new price quantity demanded level

Answer 1

$Qd = 200 - 5( 200)$

$= 200-1000 =- 800$

$New Qd = 200-250(5)$

$= 200-1250 = 1050$