Tom Kelly no worries as long as the equation and the way in which you use it is correct..these are after all just assigned variables..although y is more commonly used for quantity
Tom Kelly, I learned that way, too, but for total receipt it makes more sense to have the quantity as the x coordinate, hence makes sense starting the whole math with it placed already that way.
Yes, you can. Q = a - bP is still the equation of a line. It's just that economists typically plot demand curves where price is the dependent variable (vertical coordinate), and quantity the independent variable (horizontal coordinate). To normal people it naturally seems like it should be the other way around. Economists are weird.
Thank you, a similar problem was driving me crazy!!!
which digitizer tablet do you use? looks very responsive and nice to work with
great video, by the way!
I was taught to put the price as the x coordinate in my Business Calculus class.
Thomas Kelly price is always y quantity is x i have learned in economics and finite math
Tom Kelly no worries as long as the equation and the way in which you use it is correct..these are after all just assigned variables..although y is more commonly used for quantity
Tom Kelly, I learned that way, too, but for total receipt it makes more sense to have the quantity as the x coordinate, hence makes sense starting the whole math with it placed already that way.
can i still use the formula Q = a - bP for working out the demand function?
Yes, you can. Q = a - bP is still the equation of a line. It's just that economists typically plot demand curves where price is the dependent variable (vertical coordinate), and quantity the independent variable (horizontal coordinate). To normal people it naturally seems like it should be the other way around. Economists are weird.
Hey! You messed up man, you made the inverse! Price should be x, attendance (demand) should be q. Otherwise it doesn't make sense.
Carlos, you saved my homework.
@@jasonjennings8223 i dont get it. what did he do wrong?
@@signalhd9793 i don’t remember. I said that a year ago XD
isn't this basically regression????
Thanks a lot..
works to damn fast
why so masonic and satanic example lmao..