Math Problem Statement

Based on the equation P-a-bQ, formulate 5 Demand Equations.

Solution

To formulate five demand equations based on the equation P=abQP = a - bQ, where PP represents the price, QQ represents the quantity demanded, aa is the intercept, and bb is the slope of the demand curve, I will assign different values to aa and bb.

Here are five demand equations:

  1. P=1002QP = 100 - 2Q
  2. P=801.5QP = 80 - 1.5Q
  3. P=1203QP = 120 - 3Q
  4. P=900.5QP = 90 - 0.5Q
  5. P=1504QP = 150 - 4Q

These equations represent different demand functions, where the price decreases as the quantity demanded increases, reflecting the typical downward-sloping nature of demand curves.

Do you want details on how these equations were constructed, or have any questions?

Here are 5 related questions:

  1. How does the slope bb affect the demand curve?
  2. What does the intercept aa represent in the context of demand?
  3. How can you determine the equilibrium quantity using both supply and demand equations?
  4. How does a change in the intercept aa shift the demand curve?
  5. What happens to the quantity demanded when the price changes in each equation?

Tip: The slope bb in a demand equation shows how sensitive the quantity demanded is to changes in price. A larger bb results in a steeper demand curve, indicating less sensitivity.

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Math Problem Analysis

Mathematical Concepts

Demand Curve
Linear Equations

Formulas

Demand equation: P = a - bQ

Theorems

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Suitable Grade Level

Grades 10-12