Question: Suppose a certain outlet chain selling appliances has found that for one brand of stereo system, the monthly demand is 240 when the price is

Suppose a certain outlet chain selling appliances has found that for one brand of stereo system, the monthly demand is 240 when the price is $900. However, when the price is $850, the monthly demand is 315. Assuming that the demand function for this system is linear, write the equation for the demand function. Use p for price and q for quantity?

Step by Step Solution

★★★★★

3.40 Rating (159 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Remember that q p is the ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1386-M-C-L-A-D(2439).docx

120 KBs Word File

Students Have Also Explored These Related Calculus Questions!

Hans, a US citizen, buys $500 worth of marijuana while on vacation in Holland. Upon his return, he sells the marijuana to unsuspecting Americans for $5,000. Upon discovering this, Franz reports Hans...

Suppose a certain home improvements outlet knows that the monthly demand for framing studs is 2500 when the price is $4.00 each but that the demand is 3500 when the price is $3.60 each. Assuming that...

A stereo store sells three brands of stereo systems, brands A, B, and C. It can sell a total of 100 stereo systems per month. Brands A, B, and C take up, respectively, 5, 4, and 4 cubic feet of...

Consider the stereo store of Exercise 24 in Section 4.2. A fourth brand of stereo system has appeared on the market. Brand D takes up 3 cubic feet of storage space and generates a sales commission of...

I need help with questions 14 and 15 Firefox File Edit View History Bookmarks Tools Window Help 88% . Thu 11:50:50 PM Q = . .. "A HW 2.3 - Linear Models for Busin X C A Group Of Retailers Will Buy 80...

linear equation 21. [-/1 Points] DETAILS HARMATHAP11 1.6.019. MY NOTES ASK YOUR TEACHER A manufacturer sells belts for $11 per unit. The fixed costs are $1800 per month, and the variable cost per...

4. [-I2 Points] DETAILS HARMATHAP12 2.1.015.Ml. Solve the equation by using the quadratic formula. (Enter your answers as a comma-separated list. If there is no real solution, enter NO REAL...

Suppose a certain outlet chain selling appliances has found that for one brand of home theater, the monthly demand is 240 when the price is $900. However, when the price is $850, the monthly demand...

Math . Suppose a certain outlet chain selling appliances has found that for one brand of home theater, the monthly demand is 350 when the price is $800. However, when the price is $760, the monthly...

portal.laverne.edu X Home - University of La Verne X LTI Launch X VA HW 1.6 part 1 - SP22_Applied Qi X + webassign.net/web/Student/Assignment-Responses/last?dep=29017006 O O YouTube Maps Navy...

I need help filling in an Exec Level report on a class. It is about the Airline Industry. We are focusing on buying American Airlines as if we are Delta Airlines. I just need assitance filling in the...

A student wishes to record the UV spectrum of trans-stilbene, which has max = 308nm ( = 25,000), what concentration should be prepared if the desired absorbance is 0.5 at the maximum?

Following is a random list showing the account balances of various assets, liabilities, revenues, and expenses for Spiffys Garage at December 31, 2014, the end of its first year of operations....

( 1 point ) Given that y ( t ) = c 1 e 5 t + c 2 e - 5 t i s a solution t o the differential equation y ' ' - 2 5 y = 0 , where c 1 and c 2 are arbi - trary constants, find a function y ( t ) that...

Problem 1 The American Water Works Association estimates that the average person in the United States uses 123 gallons of water per day. Suppose some business analysts believe that the actual figure...

This is the data you collected while preparing for your annual merit and compensation review. Your task is to provide me with the following information using the POINT METHOD of determining a pay...

Problem 4 A study of MBA graduates by Universum for The American Graduate Survey 2017 revealed that MBA graduates have several expectations from prospective employers beyond their base pay. In...

A farmer sells cotton to a clothing company for $1,000, and the clothing company turns the cotton into T-shirts that it sells to a store for a total of $2,000. How much did GDP increase as a result...

In Problems, use the simplex method to find the optimal solution. Assume that all variables are nonnegative. Minimize f = 2x + 3y subject to x 5 y 13 -x + y 2

A marketing research group conducting a telephone survey must contact at least 150 wives and 120 husbands. It costs $3 to make a daytime call and (because of higher labor costs) $4 to make an evening...

River Brewery is a microbrewery that produces an amber lager and an ale. Producing a barrel of lager requires 3 lb of corn and 2 lb of hops. Producing a barrel of ale requires 2 lb each of corn and...

The primary purpose of finance is to _ _ _ _ _ _ _ _ _ _ . a . ) keep track of a business's cash flow b . ) pay off debt as quickly as possible c . ) manage assets in a way that maximizes returns d ....

Anderson International Limited is evaluating a project in Erewhon. The project will create the following cash flows: All cash flows will occur in Erewhon and are expressed in dollars. In an attempt...

Question 2 (1 point) Mortgage Information: Initial Loan Amount: $100,000 Fully Amortizing Term: 30 years Fixed rate interest rate: 4.18% It is 5 years since this loan was originated -- what is the...