The y- axis intercept of the demand curve is 60 and the slope is - 8.The equation of the demand curve is

Question

Quizplus · Accepted Answer

The general equation of a linear demand curve is P = a - bQ, where P is the price, Q is the quantity demanded, a is the y-intercept, and b is the slope. In this case, the y-intercept is 60 and the slope is -8. Substituting these values into the general equation gives us P = 60 - 8Q, which is equivalent to option B.

The Y- Axis Intercept of the Demand Curve Is 60