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Consider the market for product ABC, when the price is at Php 12, quantity demanded is 6 units. An eight pesos increase in the price
Consider the market for product ABC, when the price is at Php 12, quantity demanded is 6 units. An eight pesos increase in the price would change quantity demanded by 2 units. Determine the following: 1. The slope of the demand function (the slope should be in a fraction form) 2. The intercept of the demand function 3. The demand function 4. The price function of demand 5. Draw the graphical illustration Label your graph
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