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प्रश्न
The demand function of a product X is given as: Dx = 20 − 3Px, where Px stands for price. If an Individual Y has a demand of 8 units, then market price of the product is ______.
विकल्प
₹ 4
₹ 5
₹ 3
₹ 4.5
MCQ
रिक्त स्थान भरें
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उत्तर
The demand function of a product X is given as: Dx = 20 − 3Px, where Px stands for price. If an Individual Y has a demand of 8 units, then market price of the product is ______.
Explanation:
Set demand equal to 8 and solve: $$8=20-3P_x;\Rightarrow;3P_x=12;\Rightarrow;P_x=₹4.$$ The other listed prices do not satisfy the demand function.
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