Question

Wilderness Fanatic, a manufacturer of outdoor goods, is willing to supply 1000 of its Blue Thrash tandem kayaks when the price per kayak is set at $690. If the price per kayak is reduced by $100, Wilderness Fanatic will supply 250 fewer kayaks.
(a) Determine the supply equation for this product, assuming price, p, and quantity, x, are linearly related.
p = ______
(b) Determine the price per kayak when Wilderness Fanatic is willing to supply 1130 units.
____$ per kayak

Answer 1

1) let P represent Price, and since the dependency is linear, the supply equation will take the following form:

A) Y- $Y_{1\\}$ =  $(\frac{Y_{1} -Y_{2} }{P_{1} -P_{2} } ) (P_{1} -P_{2} )$

⇒ Y - 1,000 = $(\frac{-250}{-100} ) (P-690)$

⇒ Y - 1,000 = $\frac{5}{2} (P-690) = (\frac{5}{2})P - 345$

⇒ Y = $(\frac{5}{2})P + 1,000- 345$

⇒ Y = $(\frac{5}{2})P + 655$, therefore,

P = $(\frac{2}{5}) (Y-655)$

B) When Y = 1,130, the price would be:

⇒P =   $\frac{2}{5} (1,130 - 655)$

⇒ P =  $\frac{2}{5} (485)$

Therefore:

P = $194


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brainly.com/question/2822773