Floyd Salazar
03/24/2023 · Elementary School
Answer the following questions for the price-demand equation. \[ p+0.001 x=40 \]
UpStudy ThothAI Solution
Tutor-Verified Answer
Quick Answer
1. The slope of the demand curve is -0.001.
2. The y-intercept is 40.
3. The x-intercept is 40000.
4. The equation shows an inverse relationship between price and quantity demanded.
5. The maximum price consumers are willing to pay is 40.
6. If the quantity demanded increases by 1000 units, the price decreases to 39.
Step-by-step Solution
Answered by UpStudy AI and reviewed by a Professional Tutor
UpStudy ThothAI
Self-Developed and Ever-Improving
Thoth AI product is constantly being upgraded and optimized.
Covers All Major Subjects
Capable of handling homework in math, chemistry, biology, physics, and more.
Instant and Accurate
Provides immediate and precise solutions and guidance.
Try Now
Ask Tutors
Ask AI
10x
Fastest way to Get Answers & Solutions
By text
Enter your question here…
By image
Re-Upload
Submit