2. Complete the demand schedule below for the given equation Qd 750 -10P at given prices P12.00, P15.00, P18.0o, P21.00, and P24.00. Price (x) In Php 12.00 Quantity Demanded ty) 15.00 18.00 21.00 24.00 Required: a. Complete the table b. Plot the schedule on a graph c. Determine the slope d. Interpret the slope e. Answer the following questions: 1. What is the maximum amount people would want for this product? 2. If the price rises to P30.00 from an original price o P24.00, what would be the change in the quantity demanded by consumers? 3. It the quantity demanded of the product changed by 60 units, how much was the change in price? 4. If the price is expeeted to increase by P25.00, what would be the expected impact to the quantity demanded of the product?
2. Complete the demand schedule below for the given equation Qd 750 -10P at given prices P12.00, P15.00, P18.0o, P21.00, and P24.00. Price (x) In Php 12.00 Quantity Demanded ty) 15.00 18.00 21.00 24.00 Required: a. Complete the table b. Plot the schedule on a graph c. Determine the slope d. Interpret the slope e. Answer the following questions: 1. What is the maximum amount people would want for this product? 2. If the price rises to P30.00 from an original price o P24.00, what would be the change in the quantity demanded by consumers? 3. It the quantity demanded of the product changed by 60 units, how much was the change in price? 4. If the price is expeeted to increase by P25.00, what would be the expected impact to the quantity demanded of the product?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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