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# Answer to Question #62714 in Economics of Enterprise for Bernard

Question #62714
It is known that quantity demanded increases by two units for each \$1 increases in price. At a price of \$5, quantity demanded is ten units. a. What will be the quantity demanded if price is zero b. Write an equation for quantity demanded as a function of price C. Write an equation that expresses price as a function of quantity d. Write an equation for total revenue.
1
2016-11-24T12:53:14-0500
The quantity demanded increases by two units for each \$1 increases in price. At P = \$5 Qd = 10 units.
a. If P = 0, then the quantity demanded is Qd = 2*0 = 0 units.
b. An equation for quantity demanded as a function of price is Qd = 2P.
C. An equation that expresses price as a function of quantity is P = 0.5*Q.
d. An equation for total revenue is TR = P*Q = 0.5Q*Q = 0.5*Q^2.

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