We have (q,p)=(390,4000) and (430,8000).
Linear function.
p=mq+b
390=4000m+b...........(1)
430=8000m+b...........(2)
(2)-(1)
40=4000m => m=0.01
substitute in (1)
390=4000(0.01)+b
=> b=390-40=350
Equation is therefore
price=0.01(quantity)+350
Answer:
He will have to come up with a bigger down payment.
His monthly payments will be higher.
Good luck:)
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
Price
Quantity supplied
Explanation:
The supply curve plots price on the vertical axis and quantity supplied on the horizontal axis.
The supply curve is upward sloping. This indicates the law of supply which says, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.
The answer is Sullivan Principles. General Motors embraced what came to be named as Sullivan principles. This is name after Leon Sullivan which is also a member of GM's Board of Directors. Sullivan contended that it was morally right for GM to function in South Africa so long as two circumstances were satisfied. First, the company should not follow the apartheid laws in its own South African operations. Second, the firm should do all within its power to endorse the elimination of apartheid laws.
