Question

A clothing business finds there is a linear relationship between the number of shirts, n , it can sell and the price, p , it can charge per shirt. In particular, historical data shows that 46000 shirts can be sold at a price of $ 53 , while 50000 shirts can be sold at a price of $ 45 . Write the price p as a function of the number of shirts sold.

Answer 1

Answer:

  p = -0.002n +145

Step-by-step explanation:

You are given two points: (n, p) = (46000, 53) and (50000, 45). The 2-point form of the equation of a line is useful for this.

  y = (y2 -y1)/(x2 -x1)(x -x1) +y1

  p = (45 -53)/(50000 -46000)(n -46000) +53

  p = -8/4000(n -46000) +53

  p = -0.002n +145 . . . . . demand equation