XZ company is selling product A, according to the company when the price of product A is $28, the expected demand is 50,000 units per week. However, when the price is $58, only 20,000 units are demanded per week. Required What is the demand function for product A?

XZ company is selling product A, according to the company when the price of product A is $28, the expected demand is 50,000 units per week. However, when the price is $58, only 20,000 units are demanded per week. Required What is the demand function for product A?

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 1.8CE

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Question

XZ company is selling product A, according to the company when the price of product A is
$28, the expected demand is 50,000 units per week. However, when the price is $58, only
20,000 units are demanded per week.
Required
What is the demand function for product A?

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