Question

Demand function in linear from can be expressed as Qdx=a-bPx ,where a =_________________________​

Answer 1

Answer:

sorry I don't know...............

Answer 2

Demand function in linear form can be expressed as Qdx=a-bPx, where a is the intercept.

• The aforementioned formula shows the relationship between the change in the quantity of a good X demanded with its price.
• The value of a is constant and shows the change in quantity demanded when the price of the good is zero.
• It is an intercept that showcases an increase/ decrease in demand for the same, fixed price.
• The given equation is formed when the demand for the good is linear.