1212Monthly demand for gasoline at a particular location, as a function of the price of gasoline and the price of bus travel, is given (in hundreds of gallons) as . The slope of the demand curve for gasoline is closest to:
A
-0.07.
explanation
1212The demand curve (price as a function of {Q_D}) is found by inverting the demand function:
The slope of this function (for any positive value of {P_{bus}}) s -1/15, or -0.0667.
Comments