Price-demand equation (math)

2009-02-24 9:44 pm
The research department of a company makes the following estimates:

1) a weekly demand of 200 toasters at a price of $16 per toaster
2) a weekly demand of 300 toasters at a price of $14 per toaster

Use the research department's estimates to express p as a function of x, and find the domain of this function

回答 (1)

2009-02-24 10:36 pm
✔ 最佳答案
Assume linear relationship between p and x.
Let p = mx + c

16 = 200m + c ...(1)
14 = 300m + c ...(2)
(1)-(2):
2 = -100 m
m = -1/50
Sub into (1)
16 = 200*(-1/50) + c
c = 20

p = -x/50 + 20

When p=0, x=1000

domain of p is 0<=x<=1000
參考: Myself


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