00:01
So as we look at this thing, we know that when the price is $40, the demand is 2 ,500 units.
00:09
And when the price is, actually, i'm sorry, 2 ,000, 2 ,000 units.
00:14
So let's do 2 ,000 here.
00:17
And when the price is $30, the demand is 2 ,500 units.
00:24
So obviously, as the price goes down, more people are going to buy this thing.
00:28
The demand goes up.
00:29
So let's graph these two things on a line here and let's do what we got here so this is party graphing these so let's do on the bottom here let's just do you know zero let's do 10 20 30 and 40 and up the top here let's go you know a thousand two thousand three thousand okay so 42 thousand is up here right here 42 thousand and 30 2500 is let's see your 102030 and then 25 is about halfway here and so we have this line that kind of cuts down through these dots like so all right so now we want to take a look at um so this is part b we drew a line through this and we want to estimate the demand if it went to 20 dollars so what happens if we're at 20 dollars now right here 20 dollars is about right here so it's about 3 ,000 about 3 ,000 there...