Download DEMAND SCHEDULE:

DEMAND SCHEDULE:
SHOWS THE RELATIONSHIP BETWEEN THE PRICE LEVEL AND THE QUANTITY DEMANDED
EXAMPLE:
PRICE
QUANTITY
MONTHLY RENT PER APARTMENT
APARTMENTS DEMANDED
IN DOLLARS (P)
PER MONTH
$500
$450
$400
$350
$300
$250
$200
(QD)
7500
8000
8500
9000
9500
10,000
10,500

HOW ARE P AND QD RELATED?

WE ALL HAVE TO LIVE SOMEWHERE. WHAT DO WE DO IF WE DON’T LIVE IN AN
APARTMENT?
IS THIS WHAT YOU WOULD EXPECT?
DEMAND CURVE
PLOT THE POINTS FROM THE DEMAND SCHEDULE:
Price
Quantity
FOR PRACTICE, FIND THE LINEAR EQUATION ASSOCIATED WITH THIS LINE.