-The equation for the demand curve in the above diagram:

Question

Quizplus · Accepted Answer

The demand curve is a downward-sloping line, which means that as the price of the good increases, the quantity demanded decreases. The slope of the demand curve is -0.5, which means that for every $1 increase in price, the quantity demanded decreases by 0.5 units. The intercept of the demand curve is 35, which means that when the price is $0, the quantity demanded is 35 units. Therefore, the equation for the demand curve is P = 35 - 0.5Q.

-The Equation for the Demand Curve in the Above Diagram