Question

If demand for golf balls (quantity is per dozen) can be characterized by the following equation: Price = 20-2Q, how many dozen golf balls will be purchased if the price is $14?

Answer 1

If the price is $14, consumers will purchase 3 dozen golf balls.

Step-by-step explanation:

The demand equation is given by: Price = 20 - 2Q, where Q represents the quantity of golf balls purchased (per dozen) and Price represents the price of each dozen of golf balls.

To find out how many dozen golf balls will be purchased if the price is $14, we need to plug in the given price into the demand equation:

14 = 20 - 2Q

By rearranging the equation, we find:

2Q = 20 - 14

2Q = 6

Q = 3

Therefore, if the price is $14, consumers will purchase 3 dozen golf balls.