Supply and demand question: If private demand for flu vaccine is 10,000-20* price, what is the...
Supply and demand question: If private demand for flu vaccine is 10,000-20* price, what is the private willingness to pay when the qty is 9,000.
I am confused on how to answer this.
Homework Answers
Q= 10000 - 20P
When Q= 9000
9000 = 10000 - 20P
20P = 1000
P= 50
Private willingness to pay = $50
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