Refer to the above graph.Using Q_d for quantity demanded and P for price, which of the following equations correctly states the demand for this product? A)P = Q_d/10. B)P = 50 - P/2. C)P = 10 - .2Q_d. D)P = 10 - 2Q_d.

Question

Quizplus · Accepted Answer

The demand equation can be derived by finding the equation for the demand curve, which is a straight line passing through the points (0,10) and (50,0). The slope of this line can be found as (0-10)/(50-0) = -0.2. Using the point-slope form of a line, we get P - 10 = -0.2(Q_d - 0), which simplifies to P = 10 - 0.2Q_d.

Refer to the Above Graph