What is the quantity of televisions demanded per year when the average price of a television is $100 per unit and the demand curve for televisions is represented by $\mathrm { Q } ^ { \mathrm { d } } = 3.5 \text { million } - 5000 \mathrm { P }$ ?
A)2.5 million televisions
B)3.0 million televisions
C)3.2 million televisions
D)4.0 million televisions

Question

Quizplus · Accepted Answer

To find the quantity demanded when the price is $100, we plug in P = 100 into the demand equation: 
$\mathrm { Q } ^ { \mathrm { d } } = 3.5 \text { million } - 5000 (100) = 3.0 \text { million}$ 
Therefore, the quantity of televisions demanded per year when the average price is $100 per unit is 3.0 million televisions, which corresponds to answer choice B).

What Is the Quantity of Televisions Demanded Per Year When Qd=3.5 million −5000P\mathrm { Q } ^ { \mathrm { d } } = 3.5 \text { million } - 5000 \mathrm { P }Qd=3.5 million −5000P

What Is the Quantity of Televisions Demanded Per Year When $\mathrm { Q } ^ { \mathrm { d } } = 3.5 \text { million } - 5000 \mathrm { P }$