Question

At a unit price of $768, the quantity demanded of a certain commodity is 73 pounds. If the unit price increases to $844, the quantity demanded decreases by 19 pounds. Find the demand equation (assuming it is linear) where p is the unit price and x is the quantity demanded for this commodity in pounds.
p = ?

At what price are no consumers willing to buy this commodity?
$  

According to the above model, how many pounds of this commodity would consumers take if it was free?
  pounds

Answer 1

If x is the quantity demanded in posride and p is the unit price for a unil Doice of Pi=8768 VL. Guantity demanded x, = 73 pounds when the price is Increased to P2 =$244 the quantity demanded deneased by *2 =45-19=54 pounds 'Ix, P,J= [73,768) [zz P2} = (54, Puu? The Rabeas change is given by the slope m=P -22-2, 54-73 -99 -26 =4 The linear function with Slope = -4 and passing through [F, P.) = 875678) te ( 768) =(2, P.) =(73,768) (0-768)= -4 (30-73) P-768 -41+ 292 P= -41 +2927768 P=-47 +1060 the demand equation is PG) ==Gxt1060 S The Price p at which no consumers are willing to buy the Commodity is given by P(O)=-400) +1060 P = $ 1060 at $1060 No Consumer will bug the car

The commodhly demanded for face le when price=o is given by -4x+1060=o - 426 = -1060 Is 1000 = 265 The quantity demanded free is 265 pounds 6