SOLUTION: Use the given information to analyze what happened with the fundraiser.
When the fundraiser began, 600 people wanted to purchase the dance troupe’s T-shirts at $12 per T-shirt,
Question 1011765: Use the given information to analyze what happened with the fundraiser.
When the fundraiser began, 600 people wanted to purchase the dance troupe’s T-shirts at $12 per T-shirt, but as the group increased the price of their T-shirts, they noticed a fall in the demand. For every $1 increase in price, the demand fell by 50 shirts. The dance troupe’s initial supply was short by 210 T-shirts which corresponded to an initial price of $9.75. For every $1 increase in price, they ordered 40 more T-shirts. Write a system of linear equations to represent both the demand and supply for the T-shirts. Let q represent the quantity of T-shirts and p represent the price.
You can put this solution on YOUR website! Demand:
When , .
When , .
So then the slope is,
Using the point-slope form of a line,
.
.
.
Supply:
When ,
When ,
So then the slope is,
And similarly,
