If demand is represented as Q_d = 18 - 6P and supply is represented as Q_s = 3 + 9P, the demand curve intersects the y axis at a price of ________ and the supply curve intersects the y axis at a price of ________.

Question

Quizplus · Accepted Answer

The demand curve intersects the y-axis when P=0, so plugging P=0 into the demand equation gives 18 - 6(0) = 18. The supply curve intersects the y-axis when P=0, so plugging P=0 into the supply equation gives 3 + 9(0) = 3.

If Demand Is Represented as Qd = 18 - 6P

If Demand Is Represented as Q_d = 18 - 6P