Question

19.The demand function of a product X is given as DX= 20-3Px, where Px stands for price. If an individual why has demanded of 8 units then market price of the product is​

Answer 1

Given:

DX= 20-3Px

Px=8

DX= 20-3×8

    =20-24

    =-4

The market price of the product is​ 4

Answer 2

Given:

The demand function of a product X is given as

DX = 20-3 Px , Where Px = 8

Find:

If an individual why has demanded of 8 units then market price of the product is​

Let,

DX = $20-3*8$

$=20-24$  

$=-4$

Hence, We get The market price of the product is​ 4.