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?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Answer problem D and E
2. Complete the demand schedule below for the given equation
Qd 750 -10P at given prices P12.00, PI5.00, P18.00, P21.00,
and P24.00.
Price (x) In Php
Quantity Demanded ty)
12.00
15.00
18.00
21.00
24.00
Required:
a. Complete the table
b. Plot the schedule on a graph
c. Determine the alope
d. Interpret the slope
e. Answer the following questions:
1. What is the maximum amount people would want
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. IE the quantity demanded of the product changed by 60
units, how much was the change in price?
4. If the price is expected to increase by P25.00, what
would be the expected impact to the quantity demanded of
the product?
eant for this
Transcribed Image Text:2. Complete the demand schedule below for the given equation Qd 750 -10P at given prices P12.00, PI5.00, P18.00, P21.00, and P24.00. Price (x) In Php Quantity Demanded ty) 12.00 15.00 18.00 21.00 24.00 Required: a. Complete the table b. Plot the schedule on a graph c. Determine the alope d. Interpret the slope e. Answer the following questions: 1. What is the maximum amount people would want 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. IE the quantity demanded of the product changed by 60 units, how much was the change in price? 4. If the price is expected to increase by P25.00, what would be the expected impact to the quantity demanded of the product? eant for this
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