Given the following demand equation, Qd = 120-6P, what it the quantity demanded when the price...
Given the following demand equation, Qd = 120-6P, what it the quantity demanded when the price is 3?
Homework Answers
As per the given quantity demand equation above :-
Qd = 120 - 6P
We need to find out quantity demanded when the price is 3. So puuting the value of price as P=3 , we get the value of quantity demanded as :-
Qd = 120 - 6(3)
Qd = 120 - 18
Qd = 102
So the quantity demanded is 102 when the price is 3.
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