Answer:
x = 20,000
p = $40
If the price increase by $1, the demand will decrease by 1000
Step-by-step explanation:
Given:
x = 160 - p
x = number of Robby costumes demanded in thousands
p = price in dollars.
a. How many costumes can be sold at a price of $140?
x = 160 - p
x = 160 - 140
= 20
x = 20,000
20 thousand costumes can be sold at a price of $140
b. What price should be charged if the demand is 120,000 Robby costumes?
x is in thousand
p is in dollars
x = 160 - p
x + p = 160
120 + p = 160
p = 160-120
= 40
p = $40
c. If the price increases by $1.00, by how much does the demand decrease?
x = 160 - p
= 160 - 141
= 19
x= 19,000
If the price increase by $1, the demand will decrease by 1000
