Answer:
D(q) = -(3)/(4,000)q+19.5
Step-by-step explanation:
Given:
overall capacity = 60000
price in point one = 11
spectators in first point = 26000
second point - price = 8
spectators = 30000
solution:
The demand of a product as a function of its price and other factors such as the prices of the substitutes and complementary goods, income is the expression known as demand function. It is represented by D(q)
we have two points in our line for given ques:
first point of line = (26,000, 11)
second point of line = (30,000, 8)
Slope = (11 - 8)/(26,000 - 30,000)
= (3)/(-4,000)
y = mx + b
here, b = factors influencing demand besides price
m = slope
x = price
10 = (3)/(-4,000) )(26,000) + b
b = 19.5
y = -(3)/(4,000)+19.5
D(q) = -(3)/(4,000)q+19.5
