Drawing the demand line from the demand equation
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where is the equation mate
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Demand curve formula
The demand curve shows the amount of goods consumers are willing to buy at each market price.
A linear demand curve can be plotted using the following equation.
Qd = a – b(P)
Q = quantity demand
a = all factors affecting price other than price (e.g. income, fashion)
b = slope of the demand curve
P = Price of the good.
Inverse demand equation
The inverse demand equation can also be written as
P = a -b(Q)
a = intercept where price is 0
b = slope of demand curve
Example of linear demand curve
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