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Consider the demand equation where x represents the quantity demanded in units of a thousand and p is the unit price in dollars. 1) =

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Consider the demand equation where x represents the quantity demanded in units of a thousand and p is the unit price in dollars. 1) = V 16 2 (a) Sketch the demand curve. 10 10 a a 6 6 p p Oa. Ob. 4 4 2 2 0 2 4 e 3 1o 0 2 4 6 3 10 K X 10 1a a a 6 6 p 9 Oc. Cd. 4 4 2 2 2 4 s a 10 2 4 5 a 10 X X (b) Determine the quantity demanded when the unit price is set at p = $3. (Give your answer correct to the nearest full unit.)

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