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3241004551 [841]
3 years ago
14

A company that produces lawn chairs uses market surveys and linear regression to develop a demand function based on the wholesal

e price. The demand function is q=-110p+7500. At a price of $45 how many lawn chairs are demanded?
Mathematics
1 answer:
adoni [48]3 years ago
6 0

Answer:

q= 2,550

Step-by-step explanation:

Giving the following information:

The demand function is q=-110p+7500.

<u>When the price is 0, the demand q is 7,500 units:</u>

p= 0

q= -110*0 + 7,500= 7,500

<u>Now, when the price is $45, the demand is:</u>

p= $45

q= -110*45 + 7,500

q= -4,950 + 7,500

q= 2,550

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