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

2359 Views

See similar Economics IB tutors

Related Economics IB answers

All answers ▸

Should the government intervene in cases of market failure?


How do I write a Level 7 part (b) 15 mark answer for Paper 1?


Why is GDP not an accurate measure of economic growth?


Explain the difference between marginal returns to factor and returns to scale?



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