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 = 400 units
B) x = 3,000 units
C) x = 4,000 units
D) x = 40 units
E) x = 2,000 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 = 400 units 
B) x = 3,000 units 
C) x = 4,000 units 
D) x = 40 units 
E) x = 2,000 units

Quizplus · Accepted Answer

Substitute p = 6 in the demand equation:

x = 11(6)^-1.5 = 2,000

Therefore, the quantity demanded when the unit price is $6 is 2,000 units.

For the Demand Equation Where X Represents the Quantity