
Economics Economics Forum  Financial Mathematics, Econometrics, Operations Research, Mathematical Finance, Computational Finance 
 LinkBack  Thread Tools  Display Modes 
February 1st, 2017, 12:30 PM  #1 
Newbie Joined: Feb 2017 From: Eastbourne Posts: 1 Thanks: 0  Working out the demand function ?!?!?
So I'm having a few difficulties here.... I am currently reading Mathematics for Economics and Finance by Martin Anthony & Norman Biggs. The very first example on page 2 of chapter 1 and I am already stuck.. The example is as follows : Suppose that demand set D consists of the points (q,p) on the straight line 6q+8p = 125. Then for a given value of p we can determine the corresponding q; we simply rearrange the equation of the line in the form q=(1258p)/6 Now I think I can grasp most of the equation, however, the part I am confused with is the 125. Where has that come from ? 
February 1st, 2017, 10:01 PM  #2 
Senior Member Joined: Sep 2015 From: CA Posts: 1,199 Thanks: 611 
$6q + 8p = 125$ $6q = 125  8p$ $q = \dfrac{1258p}{6}$ 

Tags 
demand, function, working 
Thread Tools  
Display Modes  

Similar Threads  
Thread  Thread Starter  Forum  Replies  Last Post 
ti83/84 supply and demand function  blimper  Algebra  4  August 25th, 2016 04:48 PM 
Demand function  Pumaftw  Economics  0  September 15th, 2015 04:13 AM 
How to find the elasticity of a demand function  tsl182forever8  Calculus  1  March 2nd, 2012 03:47 PM 
using demand equation to find revenue function  tsl182forever8  Calculus  1  March 2nd, 2012 12:48 PM 
Uncompensated (Marshallian) demand function  Mathematica  Applied Math  0  March 1st, 2012 08:58 AM 