Answer to Question #304210 in Microeconomics for Pretty prisci

Question

Find the slope of an assumed linear demand curve for theater tickets, when persons purchase 1000 at $5.00 per ticket and 200 at $15.00 per ticket

Answer 1

slope of a linear demand curve =Change in Price / Change in Quantity

when the price changes from $5.00 to $15.00, the quantity changes from 1,000 to 200.

15 - 5 / 200 - 1000

10 / -800

Answer: -1/80