If the demand function is Qd = -0.5 + 20; calculate the quantity demanded when price is $15.0?

A. -%27.50
A. -%12.50
C. $12.50
D. -$27.50

Correct Answer:

Option C = $12.50

Explanation

When price is 15.0, quantity demanded =

Qd = -0.5(15.0)+ 20

Qd = -7.5 + 20 = $12.5