For the demand equation where x represents the quantity demanded in units of a thousand and p is the unit price in dollars, determine the quantity demanded when the unit price is set at $6.
A)x = 9,000 units
B)x = 4,500 units
C)x = 90 units
D)x = 3,000 units
E)x = 900 units

Question

For the demand equation  where x represents the quantity demanded in units of a thousand and p is the unit price in dollars, determine the quantity demanded when the unit price is set at $6.
A)x = 9,000 units 
B)x = 4,500 units 
C)x = 90 units 
D)x = 3,000 units 
E)x = 900 units

Quizplus · Accepted Answer

Substitute p = 6 into the demand equation:
11e^(12*6+0_aa5d_a532_b394_f9ed936fa354_TB7866_11) = x
Simplify:
11e^(72) = x
x ≈ 3,000 (rounded to the nearest thousand)
Therefore, the quantity demanded when the unit price is set at $6 is approximately 3,000 units. The correct choice is D.

For the Demand Equation Where X Represents the Quantity