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djyliett [7]
3 years ago
10

What characteristics lead to a downward sloping demand curve?

Mathematics
1 answer:
Makovka662 [10]3 years ago
7 0
In economics, the downward sloping demand curve is used to illustrate the law of diminishing marginal utility. This means that if more of the product is consumed, the marginal benefit to the consumer falls. This is also the instance in which the consumers are willing to pay less than the original amount for the same product. 
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3 years ago
How would I solve for the parabolic equation with these two given points. Please answer ASAP!!
monitta
So

y=ax^2+bx+c
(x,y)
sub the points and solve

(4.28,6.48)
6.48=a(4.28)^2+b(4.28)+c

(12.61,15.04)
15.04=a(12.61)^2+b(12.61)+c
well, for 3 variables, we need equations and therefor 3 points

maybe we are supposed to assume it starts at (0,0)
so then
0=a(0)^2+b(0)+c
0=c
so then
6.48=a(4.28)^2+b(4.28)
15.04=a(12.61)^2+b(12.61)

solve for a by subsitution
first equation, minut a(4.28)^2 from both sides
6.48-a(4.28)^2=b(4.28)
divide both sides by 4.28
(6.48/4.28)-4.28a=b
sub that for b in other equation

15.04=a(12.61)^2+b(12.61)
15.04=a(12.61)^2+((6.48/4.28)-4.28a)(12.61)
expand
15.04 =a(12.61)^2+(81.7128/4.28)-53.9708a
minus (81.7128/4.28) both sides
15.04-(81.7128/4.28)=a(12.61)^2-53.9708a
15.04-(81.7128/4.28)=a((12.61)^2-53.9708)
(15.04-(81.7128/4.28))/(((12.61)^2-53.9708))=a
that's the exact value of a
to find b, subsitute to get
(6.48/4.28)-4.28((15.04-(81.7128/4.28))/(((12.61)^2-53.9708)))=b

if we aprox
a≈-0.038573167896199
b≈1.6791118501845
so then the equation is
y=-0.038573167896199x²+1.6791118501845x
7 0
3 years ago
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