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Assume That the Demand Function for a Certain Commodity Has

question 38

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Assume that the demand function for a certain commodity has the form ​ Assume that the demand function for a certain commodity has the form ​   ​ Where x is the quantity demanded, measured in units of a thousand, and p is the unit price in dollars. Suppose the quantity demanded is 4,000 (x = 4)  when the unit price is $7.00 and 7,000 (x = 7)  when the unit price is $4.00. Determine the demand equation. ​ A)  ​   B)    C)    D)    E)
Where x is the quantity demanded, measured in units of a thousand, and p is the unit price in dollars. Suppose the quantity demanded is 4,000 (x = 4) when the unit price is $7.00 and 7,000 (x = 7) when the unit price is $4.00. Determine the demand equation.

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