Tannhaus Watch Company uses a price-demand model to study the sales of their watches. Let p...

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Tannhaus Watch Company uses a price-demand model to study the sales of their watches. Let p be the selling price of a watch, in dollars, and let q be the number of watches demanded by consumers. Assume the demand function, p = D(q), is linear. Part 1: Tannhaus Watch Company finds that 71 of their watches are demanded when the price of each watch is $1,733.84. When their price is $706.80. Tannhaus finds that 595 watches are demanded by consumers. (a) Use the entry boxes to make the coordinates of point A match the data in the first sentence above. Then, use the entry boxes to match the coordinates of point B to the data in the second sentence above. The positions of both points A and B will be graded upon submission. After entering a value in an entry box, you will need to hit enter or navigate out of the box to have your response recorded. Make sure you have points A and B positioned correctly before moving on to Part II. Notice that you can drag point C along the line connecting A and B or you can set point C using the entry box for q. Use the three points and the resulting line to complete Part II. Part II: (b) Find the slope of the line. Do not round. Slope: m = (c) in the context of this model, the units of the slope will be ??? of the slope found in part (b). Tannhaus Watch Company may conclude that for each 1 watch increase in demand there must be a $ (d) Use the slope and either point A or point B to find the p-intercept of the line. Do not round. The p-interceptis (answer should be an ordered pair) Use this to complete the sentence below to interpret the meaning (e) Write the equation of the line in slope-intercept form. Remember to use variables p and q. The equation of the line is (1) Write the linear demand function, in function notation. D( ??? in the price. A = (40 200 B=(740 400 TO p 2200 p= D(q) 2000 1800 1600 1400 1200 1000 800 600 400 200 -350-300-250 -200 -150-100-50 0 -200 99-200 -400 -600 -800 C B 50 100 150 200 250 300 350 400 450 500 550 600 650 700 750 Tannhaus Watch Company uses a price-demand model to study the sales of their watches. Let p be the selling price of a watch, in dollars, and let q be the number of watches demanded by consumers. Assume the demand function, p = D(q), is linear. Part 1: Tannhaus Watch Company finds that 71 of their watches are demanded when the price of each watch is $1,733.84. When their price is $706.80. Tannhaus finds that 595 watches are demanded by consumers. (a) Use the entry boxes to make the coordinates of point A match the data in the first sentence above. Then, use the entry boxes to match the coordinates of point B to the data in the second sentence above. The positions of both points A and B will be graded upon submission. After entering a value in an entry box, you will need to hit enter or navigate out of the box to have your response recorded. Make sure you have points A and B positioned correctly before moving on to Part II. Notice that you can drag point C along the line connecting A and B or you can set point C using the entry box for q. Use the three points and the resulting line to complete Part II. Part II: (b) Find the slope of the line. Do not round. Slope: m = (c) in the context of this model, the units of the slope will be ??? of the slope found in part (b). Tannhaus Watch Company may conclude that for each 1 watch increase in demand there must be a $ (d) Use the slope and either point A or point B to find the p-intercept of the line. Do not round. The p-interceptis (answer should be an ordered pair) Use this to complete the sentence below to interpret the meaning (e) Write the equation of the line in slope-intercept form. Remember to use variables p and q. The equation of the line is (1) Write the linear demand function, in function notation. D( ??? in the price. A = (40 200 B=(740 400 TO p 2200 p= D(q) 2000 1800 1600 1400 1200 1000 800 600 400 200 -350-300-250 -200 -150-100-50 0 -200 99-200 -400 -600 -800 C B 50 100 150 200 250 300 350 400 450 500 550 600 650 700 750

Answer rating: 100% (QA)

Part I a Point A 400173384 Point B 60070680 Part II b The slope is equal to qp4006001733847068020010... View the full answer