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.
General Motors takes over from Hyundai as the Oscars' exclusive national automotive advertiser, with Chevrolet and Cadillac running ads during the preshow and main ceremony. Cadillac's three spots, promoting the 2014 CTS luxury sedan and the 2014 ELR electric luxury coupe, ran during Olympics broadcasts on NBC.