Solution-Market researchers that the quantity

Market researchers that the quantity

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Reference no: EM131413749

Suppose that you are told by market researchers that the quantity demanded Qd of a good is related to its price (P) by the following relation:

Qd = 1000 - 5P .

A. Solve for P, and give the y-intercept & slope [change in P/change in Q] of the line.

B. If price is 100 (ignore units here), how much is bought & how much is spent?

Reference no: EM131413749

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Market researchers that the quantity

Reference no: EM131413749

Reference no: EM131413749

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