The image above shows which demand curve?

Question

BlackTom AI · Accepted Answer

The prompt asks us to identify the demand curve represented in the image. Based on the provided answer value, the intended expression is Qd = 50 - (1/2)P, which corresponds to a downward-sloping linear demand with intercept 50 on the quantity axis and a slope of -1/2 on the price axis.

Option analysis:
- The form Qd = 50 - (1/2)P expresses a linear relationship where increasing price P reduces quantity demanded by half a unit for every one-unit rise in price. This aligns with the standard downward-sloping demand curve: higher prices lead to lower quantity demanded, with a specific slope of -1/2.
- If there were alternative options such as Qd = 100 - 2P, that would also be linear but with intercept 100 and a much steeper slope of -2, implying a different responsiveness to price than the one shown in the image. This would not match the given intercept/slope in the image.
- If an option had the sign reversed (e.g., Qd = 50 + (1/2)P), this would imply that higher prices increase quantity demanded, which violates the law of demand and is therefore incorrect.
- If another form used a completely different intercept or a non-linear pattern, it would fail to reproduce the straight-line, downward-sloping behavior depicted, making it inconsistent with the image.

In summary, the correct specification that matches the image is Qd = 50 - (1/2)P, since it captures a linear, negatively sloped demand curve with the stated intercept and slope. The other forms either invert the relationship, change the slope magnitude, or alter the intercept in ways that would not reproduce the depicted curve.

QAMO 2010-004 Fall 2025 Unit 2: Demand -- Short Problems

The image above shows which demand curve?

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QAMO 2010-004 Fall 2025 Unit 2: Demand -- Short Problems

The image above shows which demand curve?

View Explanation

Log in for full answers

Similar Questions

Suppose the demand equation for a product is given by: Qd = 50 - 12\frac{1}{2}P b) Calculate the price at which consumers would demand 10 units of the product. Price: $ [Fill in the blank],

Suppose that a consumer had a utility function given by: U=X2Y4. This consumer has a budget of $12.Fill in the value of this consumer's demand function. X = Answer Question 3[input]*(1/Px).(For instance, if X = 4/Px, then X = 4 * (1/Px) and enter 4)

Suppose the demand function for Good X was given by: QDx = 58 - 4Px.Calculate the reservation price for the 38th unit.(Do not include a $ sign in your response.)

Suppose the demand for a good was given by the function: QD = 230 - 0.1 P.Calculate the choke price of this demand function.(Do not include a $ sign in your response.)

The demand function for this good is given by: QD= 225 -0.5P. Find quantity demanded when price is $300.

More Practical Tools for Students Powered by AI Study Helper

Making Your Study Simpler

Suppose that a consumer had a utility function given by: U=X2Y4. This consumer has a budget of $12.Fill in the value of this consumer's demand function. X = Answer Question 3[input](1/Px).(For instance, if X = 4/Px, then X = 4 (1/Px) and enter 4)