Qd=420-30P. From this equation identify the slope of the demand function and calculate the price at 60 units.

In the general demand function Qd=a-bP, b is the slope. Therefore 30 is the slope of this demand function.When Qd=60 price is calculated by:60= 40-30P30P=420-6030P=360P=12

JB
Answered by Joanna B. Economics tutor

2360 Views

See similar Economics IB tutors

Related Economics IB answers

All answers ▸

Explain factors that affect government expediture


What is the Monopoly Market Structure?


Evaluate the effectiveness of monetary policy to increase AD during a recession


1. What is a floating exchange rate system and what factors influence the level of a country’s exchange rate?


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

MyTutor is part of the IXL family of brands:

© 2026 by IXL Learning