Which equation is demand equation and why
The following relations describe demand and supply.
Q = 700 - 100P (1) Q = -100 + 100P (2)
Where P is price in dollar and Q is quantity in unit.
a. Which equation (1) or (2), is demand equation and why?
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Social science concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity.
The given relations explain demand and supply. Q = 700 - 100P (1) Q = -100 + 100P (2). Which equation (1) or (2), is demand equation and why?
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