(Advanced analysis) The equation for the demand curve in the below diagram

Name: (Advanced analysis) The equation for the demand curve in the below diagram
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Question

Quizplus · Accepted Answer

The demand curve is a straight line passing through the point (0,35) and (70,0). Using the slope formula, we get:

slope = change in P / change in Q 
slope = (0 - 35) / (70 - 0) 
slope = -0.5

Therefore, the equation of the demand curve is:

P = slope * Q + intercept 
P = -0.5Q + 35

which matches choice C.

(Advanced Analysis) the Equation for the Demand Curve in the Below