Use the following to answer question:
-(Table: Competitive Market for Good Z) Use Table: Competitive Market for Good Z.If the demand curve for good Z is linear,it can be expressed as:

Question

Use the following to answer question:

-(Table: Competitive Market for Good Z) Use Table: Competitive Market for Good Z.If the demand curve for good Z is linear,it can be expressed as:

Quizplus · Accepted Answer

The demand curve in the table shows that at a price of $10, the quantity demanded is 30 units. At a price of $15, the quantity demanded is 20 units. Therefore, the slope of the demand curve is (20-30)/($15-$10) = -2. Using the point-slope form of a linear equation and one of the points on the demand curve, we get Q_d = 50 - 2P.

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