ECON 1000 Lecture Notes - Anushree (Kannada Actress)
31 Jan 2013
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Demand = quantity response to price (example: for /home/ubuntu/manage_main_app_server.sh, how many beers would you buy?: creating survey questions should be clear, you should be getting answers. Example: suppose a pub night results in 500 beer sold at . 50 and another pub night results in. *on exam: linear demand = p = p-intercept + (change in p)/(change in q) * q, find the slope. P = price = x = 2. 50 2. 00 = 0. 5. Q = quantity = y = 500 750 = -250. 0. 5 / -250 = -0. 002: so far: p = a 0. 002q, plug in a point (p,q) and solve for a. A = 3. 5: so far: p = 3. 5 0. 002q, plug in the other point (p2, q2) and solve for a again. A = 3. 5: so, p = 3. 5 0. 002q is correct, examining total revenues, costs and profits. Total revenue at . 50 is 2. 5(500) = . Total revenue at is 2(750) = .
