A firms sells good Q and has reported sales data where at a price of P = 10, the firm sold 16units and at a price of P = 14, the firm sold 11.2 units. What is the linear equation fordemand?Q = 68.6 6.1PQ = 60-4.4PQ = 28-1.2PQ 18.4 0.4P

A firm sells good Q at price P. When P= 10, then Q=16 units.When P= 14, then Q=11.2 units.

Answered: A firms sells good Q and has reported…

A firms sells good Q and has reported sales data where at a price of P = 10, the firm sold la units and at a price of P = 14, the firm sold 11.2 units. What is the linear equation for demand?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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