The following are the equations for the supply and demand curves in the market for weezils:
where Q _d is the quantity demanded, Q _s is the quantity supplied, and P is the price per weezil in dollars.
Refer to Exhibit 4-1. If consumers decide that they want 20 percent fewer weezils at every price, the equation for the new demand curve for weezils will be

Question

The following are the equations for the supply and demand curves in the market for weezils:

where Q _d is the quantity demanded, Q _s is the quantity supplied, and P is the price per weezil in dollars.
Refer to Exhibit 4-1. If consumers decide that they want 20 percent fewer weezils at every price, the equation for the new demand curve for weezils will be

Quizplus · Accepted Answer

To decrease demand by 20%, we can multiply the original demand equation by 0.8. Thus, the new demand curve becomes: Q _d = 0.8(20 - 2P) Option C matches this equation.

The Following Are the Equations for the Supply and Demand