Question

the demand curve for a swivel chair is given by p = 4000(3-q) dollars per swivel chair, where p is the price and q is the quantity, in thousands of swivel chair, demanded at that price. what quantity will be demanded if the price per swivel chair is $256.60?

Answer 1

$\text{The demand curve is given by $p = 4000(3-q)$, when p = 256}\\ \implies 256 = 4000(3-q)\\ \implies q = 2.936$