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 in the demand equation: 
x = (11/6)e^(0.8(6)) = 3000 units. 
Therefore, the quantity demanded when the unit price is $6 is 3000 units.

For the Demand Equation Where X Represents the Quantity