Question: Suppose that q = f(p) is the demand curve for a product, where p is the selling price in dollars and q is the quantity

Suppose that q = f(p) is the demand curve for a product, where p is the selling price in dollars and q is the quantity sold at that price. 

(a) What does the statement f(12) = 60 tell you about demand for this product?

(b) Do you expect this function to be increasing or decreasing? Why?

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