Question: Consider the market for product ABC, when the price is at Php 12, quantity demanded is 6 units.
An eight pesos increase in the price would change quantity demanded by 2 units.
Determine the following:
1. The slope of the demand function (the slope should be in a fraction form)
2. The intercept of the demand function
3. The demand function
4. The price function of demand
5. Draw the graphical illustration
Label your graph.