Respuesta :
In the given demand function, the variable H can be the price of the mechanical lead pencils which are the other form of pencils apart from the wood lead pencils.
Answer: Option C
Explanation:
The demand function shows the relation ship between the price of the goods and the quantity demanded of the goods which are inversely related to each other and show that with the increase in the price of the good, the quantity demanded falls. The number 5000 is an autonomous demand of the pencils. This means the demand of the pencils when the price of the pencils is zero.
The variable H is the price of the the pencil which is the mechanical lead pencil. It is the second form of the pencil. The first form of the pencil is the pencil made from the wood which is shown by the variable G in the following demand function in the question.
The statement that is true with regards to the given demand function is The variable H could be price of mechanical lead pencils.
What is a demand function?
Demand functions show the functional relationship between quantity demanded and other determinants for a commodity.
The standard demand function can be represented as:
[tex]\rm Q = a - bP[/tex], where Q is the quantity demanded, a is the autonomous demand, b is the slope and P is the price of the commodity.
The given demand function for #2 pencil is:
[tex]\rm Q= 5,000-\dfrac{1}{2}G + 2H[/tex]
On the basis of the above demand function, we can assume that the variable H represents the price of the #2 pencil.
Therefore the correct statement is C.
Learn more about demand function here:
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