Question: 4. Recall that the general demand function for the demand curves In Figure 2.2 Is Qd - 3,200 - 10P + 0.05M + 24PR Derive

4. Recall that the general demand function for the demand curves In Figure 2.2 Is Qd - 3,200 - 10P + 0.05M + 24PR Derive the demand function for D2 In Figure 2.2. Recall that for D2 Income Is $52,000 and the price of the related good Is $200. A: Qd = 3,200 - 10P + 0.05*52,000* - 24*200" = 3,200 - 10P + 2,600 - 4,800 = - 10P + 1,000

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