Assume that the demand function for a certain commodity has the form

where x is the quantity demanded, measured in units of a thousand, and p is the unit price in dollars. Suppose the quantity demanded is 7,000 (x = 7) when the unit price is $9.00 and 9,000 (x = 9) when the unit price is $7.00. Determine the demand equation.

Question

Assume that the demand function for a certain commodity has the form
​  ​
where x is the quantity demanded, measured in units of a thousand, and p is the unit price in dollars. Suppose the quantity demanded is 7,000 (x = 7) when the unit price is $9.00 and 9,000 (x = 9) when the unit price is $7.00. Determine the demand equation.

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The Answer of Assume that the demand function for a certain commodity has the form
​  ​
where x is the quantity demanded, measured in units of a thousand, and p is the unit price in dollars. Suppose the quantity demanded is 7,000 (x = 7) when the unit price is $9.00 and 9,000 (x = 9) when the unit price is $7.00. Determine the demand equation.

Assume That the Demand Function for a Certain Commodity Has