There is no demand for a certain commodity when the unit price is $200 or more, but the demand increases by 200 units for each $

Question

3 years ago

7

10 decrease in price below $200. Find the demand equation.

1 answer:

nikitadnepr [17] · Answer 1 · 2022-05-17T08:35:13+03:00

Answer:

y = -0.05x + 200

Explanation:

Two points are available ($200, 0), ($190, 200)

We find the equation from these two points.

Slope = (190-200)/(200 -0) = -10/200 = -0.05

Now, we write the equation of line with scope m=-0.05 and point (0. 200)

y-200 = -0.05(x-0)

y = -0.05x + 200 (Demand equation)