My Math Forum Working out the demand function ?!?!?

 Economics Economics Forum - Financial Mathematics, Econometrics, Operations Research, Mathematical Finance, Computational Finance

 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=(125-8p)/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: 1,238 Thanks: 637 $6q + 8p = 125$ $6q = 125 - 8p$ $q = \dfrac{125-8p}{6}$

 Tags demand, function, working

 Thread Tools Display Modes Linear Mode

 Similar Threads Thread Thread Starter Forum Replies Last Post blimper Algebra 4 August 25th, 2016 04:48 PM Pumaftw Economics 0 September 15th, 2015 04:13 AM tsl182forever8 Calculus 1 March 2nd, 2012 03:47 PM tsl182forever8 Calculus 1 March 2nd, 2012 12:48 PM Mathematica Applied Math 0 March 1st, 2012 08:58 AM

 Contact - Home - Forums - Cryptocurrency Forum - Top