~*~BaBY PanDA~*~ (zipzerohustla) wrote in uw,
~*~BaBY PanDA~*~
zipzerohustla
uw

If you know anything about econ, please help me!

I'm at foster library thinking that the course reserve of the econ text for my class would help me with this problem... but the front desk has no idea where the copy is even though computer says it's checked in! grrrr.

Can someone please help me with this question? I feel like such an idiot because it's part of a group assignment and I don't want to let the rest of my group members down...


"Suppose the demand for a particular product can be expressed as q=100/p. Calculate the total amount spent on this good when p=10, 20, 50. Can you make a generalization about the mathematical form of this demand curve and consumer behavior in the market?"


My thoughts are to plug in p into the equation q=100/p, and then multiply PxQ to get the total amount spent.... Does that sound right?
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