It is given in the demand equation, Q = 100 - 5P. The coefficient of P, which is -5, tells you by how much quantity demanded falls for each 1 unit increase in the price. In the case of this equation, if the price increases by one, quantity demanded goes down by 5. In an equation for a straight-line demand curve, the coefficient of the price will always tell you the slope of the line. Hope this helps. Thank you for watching!
your channel is awesome, thanks a lot!
I am glad that you like it. Thank you for watching!
Thanks a lot! I was having big problems on understanding this subject until now.
Thank you. I have a test over this on Sunday, i was having a hard time wrapping my head around what was in the text
Thank you for watching, Ryan! Good luck on your test!
Can you explain how you got -5 for the slope of the demand curve at 8:10 ?
Thank you
It is given in the demand equation, Q = 100 - 5P. The coefficient of P, which is -5, tells you by how much quantity demanded falls for each 1 unit increase in the price. In the case of this equation, if the price increases by one, quantity demanded goes down by 5. In an equation for a straight-line demand curve, the coefficient of the price will always tell you the slope of the line. Hope this helps. Thank you for watching!