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CIMA Exam CIMAPRO19-P02-1 Topic 1 Question 77 Discussion

Actual exam question for CIMA's CIMAPRO19-P02-1 exam
Question #: 77
Topic #: 1
[All CIMAPRO19-P02-1 Questions]

Product WB currently sells for $13 per unit. Annual demand at that price is 20,000 units. If the price increases to $15, the annual demand falls by 500 units.

What is the formula for the demand curve?

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Suggested Answer: C

by Vi at Nov 27, 2023, 03:00 PM

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Elenor
7 days ago
A seems like the right formula, with Q representing quantity and P representing price. The given information about the demand changes with price suggests a linear demand curve.
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Delisa
13 days ago
I'm not sure, but I think the formula might be P = a - b(Q).
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Marvel
16 days ago
I agree with Emogene, because the quantity demanded decreases as the price increases.
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Emogene
17 days ago
I think the formula for the demand curve is Q = a - bP.
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