If $\hat{y}$ = 110 - 5x with y = product and x = price of product, what happens to the demand if the price is increased by 3 units?
A) increases by 15 units
B) increases by 125 units
C) decreases by 15 units
D) decreases by 95 units

Question

Quizplus · Accepted Answer

If the price (x) is increased by 3 units, the equation becomes y = 110 - 5(x + 3) = 110 - 5x - 15. This results in a decrease in demand (y) by 15 units.

If y^\hat{y}y^​ = 110 - 5x with Y = Product and X

If $\hat{y}$ = 110 - 5x with Y = Product and X