ITPEC FE Subject A April 2024 Question 59
ITPEC FE Subject A April 2024 — Question 59 of 60
Two known points: ($30, 0) and ($10, 60,000).
Slope = (60,000 - 0) / (10 - 30) = -3,000 units per $1
Equation: demand = -3,000 × price + 90,000
At price = $15:demand = -3,000 × 15 + 90,000 = 45,000
Why not others:
- (a) 30,000 — would be at price = $20
- (b) 35,000 — not on the line at any integer price
- (c) 40,000 — corresponds to price ≈ $16.67
Key rule: Build the equation from two points → slope = Δdemand / Δprice, then substitute the target price.
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