Q=2000-20P
Whats your question?
what is the impact of the volatility of the Rand on the South African imports and exports
The equation you provided is called a demand equation. It represents the relationship between the price (P) of a product and the quantity demanded (Q) of that product. In this equation, the quantity demanded (Q) is equal to 2000 minus 20 times the price (P).
To understand this equation better, let's break it down:
1. 2000 represents the base quantity demanded at a price of zero. It is also known as the intercept of the demand equation.
2. -20 is the slope of the demand equation. It indicates how the quantity demanded changes with respect to the price. In this case, the slope is negative, meaning that as the price increases, the quantity demanded decreases.
Now, if you have a specific price value (P), you can substitute it into the equation to determine the corresponding quantity demanded (Q). For example, if the price (P) is 100:
Q = 2000 - 20P
Q = 2000 - 20(100)
Q = 2000 - 2000
Q = 0
In this case, when the price is 100, the quantity demanded is zero. This indicates that at that price, no one wants to buy the product.
Similarly, you can substitute different price values to find the corresponding quantity demanded. Keep in mind that the quantity demanded will always be a positive number since it represents the number of units people are willing to buy.