Question

Suppose that the demand and price for a certain model of a youth wristwatch are related by the equation p = f(q), where p is the price (in dollars) and q is the quantity demanded (in hundreds). Provide details.

Answer 1

The given equation p = f(q) represents the relationship between the demand and price for a certain model of a youth wristwatch.

Step-by-step explanation:

The given equation, p = f(q), represents the relationship between the demand and price for a certain model of a youth wristwatch. In this equation, p represents the price in dollars, and q represents the quantity demanded in hundreds. The exact function f(q) is not provided, so we cannot determine the specific relationship between price and quantity demanded without more information.