When buyers buy less of a good, the manufacturer may reduce the ______ of the good or cut back its ____
1 answer:
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<u>Part (a)</u>
The variable y is the dependent variable and the variable x is the independent variable.
<u>Part (b)</u>
The cost of one ticket is $0.75. Therefore, the cost of 18 tickets will be:
dollars
Now, we know that Kendall spent her money only on ride tickets and fair admission and that she spent a total of $33.50.
Therefore, the price of the fair admission is: $33.50-$13.50=$20
If we use y to represent the total cost and x to represent the number of ride tickets, the linear equation that can be used to determine the cost for anyone who only pays for ride tickets and fair admission can be written as:
......Equation 1
<u>Part (c)</u>
The above equation is logical because, in general, the total cost of the rides will depend upon the number of ride tickets bought and that will be 0.75x. Now, even if one does not take any rides, that is when x=0, they still will have to pay for the fair admission, and thus their total cost, y=$20.
Likewise, any "additional" cost will depend upon the number of ride tickets bought as already suggested. Thus, the total cost will be the sum of the total ride ticket cost and the fixed fair admission cost. Thus, the above Equation 1 is the correct representative linear equation of the question given.