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In: Economics

The Kingdom of Monkey has determined that the demand for the country’s automobile tires is given...

The Kingdom of Monkey has determined that the demand for the country’s automobile tires is given by QD = 3,200 -25P, where Q = the number of tourists served each month and P is the price per roundtrip tour on a river boat for each couple. The supply of romantic river-boat tours is given by QS = 15P - 800

What is the Demand Intercept?

Solutions

Expert Solution

The demand for country's automobiles is QD = 3200 - 25P P = 3200/25 - QD/25 P= 128 - QD/25

Now, if we take Price on the vertical axis and quantity on the horizonal axis so when QD = 0 , P= 128

P=128 is the demand intercept

Rahul Sunny answered 2 years ago
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