Answer:
b. 1
Step-by-step explanation:
Step 1: Define
y(x) = 4x
y(x) = 4
Step 2: Substitute and Evaluate
4 = 4x
x = 1
Answer: -7/5
Step-by-step explanation:
-4(1/5)⋅(1/3)
Convert -4(1/5) to an improper fraction.
A mixed number is an addition of its whole and fractional parts.
− (4 +1/5) ⋅(1/3)
Add 4 and 1/5
-21/5 ⋅ 1/3
Cancel the common factor of 3.
Move the leading negative in − 21
/5 into the numerator.
−21/5 ⋅ 1/3
Factor 3 out of −21.
3 (−7)/5 ⋅ 3
/1
Cancel the common factor.
Rewrite the expression.
−7
/5
Step-by-step explanation:
1.) The average nightly ticket sales can be calculated as
Average sales = Average no. of customers per night x Charge per ticket
For the second night, we have
$1750 = (N)($7)
This gives us N = 250.
So, the average number of customers decreased as a result of the price increase.
To calculate the percentage change, we use the following formula:
% change = 
We have -17% change in the average number of customers the theater has each night. The negative sign indicates a decrease in the number, which is consistent with our calculations.
2.) % change in prices = 
Therefore, we have 40% change in the cost of ticket per person, which reflects an increase in the prices.
3.) Elasticity of Demand = 
Hence, we have
= -0.425
This stands consistent with the Law of Demand - as the price increases, the quantity demanded decreases.
4.) Market price is obtained by looking for a point where the quantity supplied equals the quantity demanded. From the table we see that at $75 price, there is a demand for 45,000 units of that product in that market, which the suppliers are willing to supply. Hence, that defines the market price for that product.