Answer :
Answer:
a. $28
b. $19
c. 800 watches
Explanation:
The equation is
p = D(q) = 28 - 2.25
The equation of the demand would be
P = 28 - 2.25q
a. The price would be
= $28 - 2.25 × 0
= $28 - 0
= $28
b. The price would be
= $28 - 2.25 × 4
= $28 - 9
= $19
The quantity demanded is come in hundreds so we take only 4
c. The quantity woul dbe
$10 = $28 - 2.25q
$10 - $28 = -$2.25q
-$18 = -$2.25q
So q would be
= 800 watches
(a) The price of a watch when the demand has been zero is $28.
(b) The price of watch when the demand has been 400 is $18.
(c) The quantity supplied by at the price of $10 has been 800 watches.
The demand quantity has been given as the amount of goods that has been estimated to be bought by the consumer.
The price has been selling amount that has been achieved for the goods.
The given equation for the demand, supply has been given as:
[tex]P=28-2.5q[/tex]
Computation for the price and quantity
(a) The demand of the watches has been given as, [tex]q=0[/tex]
Substituting the value for the price of watches, P
[tex]P=28-2.5(0)\\ P=28-0\\ P=28[/tex]
The price of watch when the demand has been zero is $28.
(b) The demand has been given in the multiples of 100. Thus, the given demand of watch has been, [tex]q=4[/tex].
Substituting the value for the price of watches, P
[tex]P=28-2.5(4)\\P=28-10\\P=18[/tex]
The price of watch when the demand has been 400 is $18.
(c) The given price of the watch has been, [tex]P=10[/tex]
Substituting the value for the quantity of watches, q
[tex]10=28-2.5(q)\\ -18=-2.5q\\ q=800[/tex]
The quantity supplied by at the price of $10 has been 800 watches.
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