The demand function in Table 3-1 is Q_X^d = 100

Name: The demand function in Table 3-1 is Q X d = 100 - 2P X . Based on this information, when Q X = 80, the price, P X (point A), is: A) $5. B) $10. C) $15. D) $20.
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Question

The demand function in Table 3-1 is Q_X^d = 100 - 2P_X. Based on this information, when Q_X = 80, the price, P_X (point A), is: A) $5. B) $10. C) $15. D) $20.

Quizplus · Accepted Answer

Given demand function: Q_X^d = 100 - 2P_X At point A, Q_X = 80 Substituting the value in the demand function: 80 = 100 - 2P_X 2P_X = 20 P_X= 10 Hence, the price at point A is $10.

The Demand Function in Table 3-1 Is QXd = 100