Letâs assume that the demand for a given product can be represented by the equation, price = 100 - .5(quantity). If the current price is 10 dollars and the quantity demanded is 180, then a two dollar increase in the price reduces the quantity demanded by four units.
| AP. It's finally time for Hollywood's big night. The 2013 Oscars begin tonight at 8:30 p.m. Eastern Time (5:30 p.m. Pacific Time) at the Dolby Theatre in Los Angeles, California. It's the 85th annual Academy Awards and you can watch live on ABC. The show itself will be preceded by Red Carpet arrivals, beginning at 7 p.m. ET.
Jackman won an Emmy in 2005 for hosting the 59th annual Tony Awards in 2004. He was also nominated as host of the Tonys in 2005. ABC will broadcast the Oscar ceremony live from the Kodak Theatre in Los Angeles on Feb. 22. RELATED GALLERY: â¢ PEOPLEâs Oscar covers: Read about the parties, the dresses, and the winners! RELATED VIDEO: