1.

Two demand function equations are given below. QD1 = 60 – 10P QD2 = 80 -10P a. Derive two demand schedules forthe above demand functions (Take the values of P as 1,2,3,4,5) QD1 = 60 - 10P QD2 = 80 – 10P P = 1,2,3,4,5

Answer»
PriceQD1 = 60 - 10PQD2 = 80 - 10P
160 - 10 x 1 = 5080 - 10 x 1 = 70
260 - 10 x 2 = 4080 - 10 x 2 = 60
360 - 10 x 3 = 3080 - 10 x 3 = 50
460 - 10 x 4 = 20 80 - 10 x 4 = 40
550 - 10 x 5 = 1080 - 10 x 5 = 30


Discussion

No Comment Found

Related InterviewSolutions