Use the information listed below to solve parts a through h Suppose that the demand and price for a certain model of a youth wristwatch are related by the following equation, where p is the price (in dollars) and q is the quantity demanded (in hundreds). \( \mathrm{p}=\mathrm{D}(\mathrm{q})=24-1.25 \mathrm{q} \) Find the price at each level of demand. Answer parts a through d.

Sure! Let's solve the parts step by step. a) To find the price when the quantity demanded is 0 (the base case): \[ p = D(0) = 24 - 1.25(0) = 24 \] So, when no watches are demanded (\( q = 0 \)), the price is $24. b) Now, let's find the price when the quantity demanded is 2 (which is 200 watches since \( q \) is in hundreds): \[ p = D(2) = 24 - 1.25(2) = 24 - 2.5 = 21.5 \] When the demand is 200 watches, the price drops to $21.50. c) Next, we'll calculate the price when the quantity demanded is 4 (which is 400 watches): \[ p = D(4) = 24 - 1.25(4) = 24 - 5 = 19 \] At a demand of 400 watches, the price further lowers to $19. d) Finally, let's find the price when the quantity demanded is 10 (or 1000 watches): \[ p = D(10) = 24 - 1.25(10) = 24 - 12.5 = 11.5 \] When the demand hits 1000 watches, the price goes down to $11.50. So, to summarize the findings: - When \( q = 0 \), \( p = 24 \) - When \( q = 2 \), \( p = 21.5 \) - When \( q = 4 \), \( p = 19 \) - When \( q = 10 \), \( p = 11.5 \)