The demand curve for a swivel chair is given by p = 4000(3 -q) dollars per swivel chair, where p is the price and q is the quantity, in thousands of swivel chair, demanded at that price. What quantity will be demanded if the price per swivel chair is $256.60?

The demand curve for a swivel chair is given by p = 4000(3 -q) dollars per swivel chair, where p is the price and q is the quantity, in thousands of swivel chair, demanded at that price. What quantity will be demanded if the price per swivel chair is $256.60?

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter8: Understanding Markets And Industry Changes

Section: Chapter Questions

Problem 7MC

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Question

The demand curve for a swivel chair is given by p = 4000(3 ^-q) dollars per swivel chair, where p is the price and q is the quantity, in thousands of swivel chair, demanded at that price. What quantity will be demanded if the price per swivel chair is $256.60?

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