SOLUTION: Consider the demand equation where x represents the quantity demanded in units of a thousand and p is the unit price in dollars.
p = {{{ sqrt( 16-x^2 ) }}}
Determine the qu
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Question 1160549: Consider the demand equation where x represents the quantity demanded in units of a thousand and p is the unit price in dollars.
p =
Determine the quantity demanded when the unit price is set at p = $3. (Round your answer to the nearest full unit.)
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
Consider the demand equation where x represents the quantity demanded in units of a thousand and p is the unit price in dollars.
p =
= 3
Square both sides
16-x^2 = 9
-x^2 = 9 - 16
-x^2 = -7
which is
x^2 = 7
x =
x = 2.6457 thousand ~ 2646 units when unit price is $3
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