Find the demand equation using the given information. (Let x be the number of items.) A...
Find the demand equation using the given information. (Let x be the number of items.)
A company finds that at a price of $150 each it can sell 60 items. If the price is raised $10, then 20 fewer items are sold.
D(x) =
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Answer:
P1 = 150
X1 = 60
P2 = 150 + 10 = 160
X2 = 60 - 20 = 40
Let d(x) = a - bx
From 1st case
150 = a- 60b
2nd case
160 = a - 40b
Subtracting 2 from 1 to find a
=> 10 = 20b
b = 0.5
a = 180
The demand equation is D(x) = 180 - 0.5b
Add Answer to:
Find the demand equation using the given information. (Let
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