Question 13
Theory of DemandGiven the demand function Qd = 20 − (1/2)P. What is Qd when P is $12?
- A.6 units
- B.10 units
- C.12 units
- D.14 units
Show the answer and explanation
Answer: D (14 units)
Explanation
Qd = 20 − ½(12) = 20 − 6 = 14 units.
Given the demand function Qd = 20 − (1/2)P. What is Qd when P is $12?
Answer: D (14 units)
Qd = 20 − ½(12) = 20 − 6 = 14 units.