Question: (a) The quantity demanded for a company commodity is 82,000 units when the unit price is RM1.60. At unit price of RM2.20, the quantity demanded

(a) The quantity demanded for a company commodity is 82,000 units

(a) The quantity demanded for a company commodity is 82,000 units when the unit price is RM1.60. At unit price of RM2.20, the quantity demanded depreciates to 64,000 units. (i) Find the demand equation, assuming that the relationship between demand and price is linear. (6 marks) (ii) What is the quantity demanded if the company intend to set the price at RM2.80? (2 marks) (iii) What is the unit price corresponding to quantity demanded of 100,000 units. (3 marks) (iv) Interpret the slope of the demand equation found in question 5(a). (2 marks)

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