The demand of beans in bags is given by the function Q – 36 + 0.4P = 0. Where P is price in naira and Q is quantity, find Q when P =N20
Question
The demand of beans in bags is given by the function Q – 36 + 0.4P = 0. Where P is price in naira and Q is quantity, find Q when P =N20
Solution
To find the value of Q when P = N20, we can substitute P = N20 into the given demand function and solve for Q.
The demand function is Q - 36 + 0.4P = 0.
Substituting P = N20, we have Q - 36 + 0.4(N20) = 0.
Simplifying the equation, we get Q - 36 + 8 = 0.
Combining like terms, we have Q - 28 = 0.
To isolate Q, we add 28 to both sides of the equation, giving us Q = 28.
Therefore, when P = N20, the quantity demanded (Q) is 28.
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