Question 44
Theory of DemandGiven that Qd = 80 − 2p where Qd is quantity demanded and P is the price, what quantity would be demanded when the price (P) is $3?
- A.86 units
- B.80 units
- C.76 units
- D.74 units.
Show the answer and explanation
Answer: D (74 units.)
Explanation
Qd = 80 − 2(3) = 80 − 6 = 74 units.