For a given demand function Y = 50 - 2P,

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Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Theory of Consumer behaviour

Question:

For a given demand function Y = 50 - 2P, the quantity demanded at P = Rs. 20 is :

Options:

5 units

10 units

0 units

50 units

Correct Answer:

10 units

Explanation:

Y = 50 - 2P

Where:

To find the quantity demanded at P = Rs. 20, we simply substitute P = 20 into the equation:

Y = 50 - 2(20)

Y = 50 - 40

Y = 10 units

Therefore, the quantity demanded at P = Rs. 20 is 10 units.