Question

the demand curve for a swiveled chair is given by p=4000(3-5) dollars per swiveled chair. where p is the price and q is the quantity , in thousand of swivel chair, demanded at that price. what quantity will.be demanded if the price per swivel chair is 256.60

Answer 1

$256.40=4000*3^{-q}$

$3^{-q}=0.06415$

$-q\ln(3)=\ln(0.06415)$

$q=2.500.$

At the price of $256.60 will be demanded 2500 chairs.