My Math Forum  

Go Back   My Math Forum > Science Forums > Economics

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

LinkBack Thread Tools Display Modes
February 1st, 2017, 11:30 AM   #1
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 ?
jonathanjhc is offline  
February 1st, 2017, 09:01 PM   #2
Senior Member
romsek's Avatar
Joined: Sep 2015
From: USA

Posts: 1,981
Thanks: 1027

$6q + 8p = 125$

$6q = 125 - 8p$

$q = \dfrac{125-8p}{6}$
romsek is offline  

  My Math Forum > Science Forums > Economics

demand, function, working

Thread Tools
Display Modes

Similar Threads
Thread Thread Starter Forum Replies Last Post
ti-83/84 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 02:47 PM
using demand equation to find revenue function tsl182forever8 Calculus 1 March 2nd, 2012 11:48 AM
Uncompensated (Marshallian) demand function Mathematica Applied Math 0 March 1st, 2012 07:58 AM

Copyright © 2018 My Math Forum. All rights reserved.