Use Figure 1 below to answer Questions 3 & 4:

Figure 1

On Figure 1, there are two functions named S and D, and the y- and x-axes are labeled P (for "price") and Q (for "quantity"), respectively.

For the function named D, what is the price if the quantity = 600?

Question

Use Figure 1 below to answer Questions 3 & 4:

Figure 1

On Figure 1, there are two functions named S and D, and the y- and x-axes are labeled P (for "price") and Q (for "quantity"), respectively.

For the function named D, what is the price if the quantity = 600?

BlackTom AI · Accepted Answer

In this question, we are asked to use Figure 1 to find the price on the demand function D when the quantity is 600.

First, identify the function named D on the diagram. The axis labels tell us P stands for price (vertical axis) and Q stands for quantity (horizontal axis).

Next, locate the quantity level Q = 600 on the horizontal axis. From that point, move vertically upward (since price is on the vertical axis) until you intersect the D curve.

At the intersection with the D curve, read the corresponding price value on the vertical axis. That price is the price associated with Q = 600 on the demand function D.

If the figure is drawn to scale with clear tick marks, this intersection should align with a specific price; in the provided data, the indicated price value for Q = 600 on function D is 40. Therefore, the price at quantity 600 is 40.

Note on alternatives: without the diagram, one cannot verify whether 600 corresponds to 40 or another value, so it is essential to rely on the actual plotted point where D crosses Q = 600. If the figure had different scaling or a misread intersection, the price could differ accordingly.

In summary, read the D curve at Q = 600 and report the corresponding price from the vertical axis; here that value is 40.

econ_102_120251_245827 EXTRA CREDIT - ECON 102 Pretest

Use Figure 1 below to answer Questions 3 & 4: Figure 1 On Figure 1, there are two functions named S and D, and the y- and x-axes are labeled P (for "price") and Q (for "quantity"), respectively. For the function named D, what is the price if the quantity = 600?

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