Observe the graph of a market for headphones. At what price will consumers aggregately want to purchase 8 thousand units? Answer in terms of USD. (round your answer to two decimal places if necessary) P(USD)+
Observe the graph of a market for headphones. At what price will consumers aggregately want to purchase 8 thousand units? Answer in terms of USD. (round your answer to two decimal places if necessary) P(USD)+
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question

Transcribed Image Text:Observe the graph of a market for headphones. At what price will consumers aggregately want to
purchase 8 thousand units? Answer in terms of USD. (round your answer to two decimal places if
necessary)
P(USD),
80-
60-
pe.
40-
20-
2
S
D
Q(Thousands)
Expert Solution

Step 1: Introduction
Demand curve represents the quantity tgat the consumer is willing to demand at different price levels.
Now the demand curve is downward sloping because as the price increases the quantity demanded decreases.
Step by step
Solved in 3 steps
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