If the quantity of fishing poles demanded is represented by the equation QD = 60 - P, then the corresponding price of fishing poles is represented by the equation
A) P = 0.6QD + 10.
B) P = 60 - QD.
C) P = -60 + QD.
D) P = QD + 60.

Question

Quizplus · Accepted Answer

The equation QD = 60 - P implies that as the price of fishing poles decreases, the quantity demanded will increase. Therefore, the price (P) is the independent variable and the quantity demanded (QD) is the dependent variable.

To solve for P, we can rearrange the equation as P = 60 - QD. This is consistent with choice B. So, P = 60 - QD is the correct equation to represent the corresponding price of fishing poles.

If the Quantity of Fishing Poles Demanded Is Represented by the Equation