Answer to Question #207118 in Economics for AzoAce

Question

Calculate the quantity demanded when: (0) P= N500, (i) P= N1000, (ii) PeN1500 and

(iv) P=N2000.

Answer 1

$$Q_D=a-bp$$

(0) P= N500,

$$Q_D=a-500b$$

(i) P= N1000,

$$Q_D=a-1000b$$

(ii) PeN1500

$$Q_D=a-1500b$$

and

(iv) P=N2000.

$$Q_D=a-2000b$$