What is the quantity of televisions demanded per year when the average price of a television is R75 per unit and the demand curve for televisions is presented by Qd = 2.5 million – 3487P?
To find the quantity of televisions demanded per year, we need to substitute the given average price of R75 into the demand curve.
Qd = 2.5 million - 3487(75)
Qd = 2.5 million - 261525
Qd = 2,238,475
Therefore, the quantity of televisions demanded per year when the average price is R75 per unit is approximately 2,238,475 units.