SOLUTION: When the price (p) of commodity is $10 per unit, 750 units of it are sold. For every $1 increase in the unit price, the supply (q) increases by 100 units.
a. write the linear func
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-> SOLUTION: When the price (p) of commodity is $10 per unit, 750 units of it are sold. For every $1 increase in the unit price, the supply (q) increases by 100 units.
a. write the linear func
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Question 792314: When the price (p) of commodity is $10 per unit, 750 units of it are sold. For every $1 increase in the unit price, the supply (q) increases by 100 units.
a. write the linear function q=f(p)
b. Find the supply when the price is $15 per unit
c. What is the price at which 1750 units can be supplied?
If you could please help me solve this I would really appreciate it. We have recently started working with the library of functions and stuff in class and I am having difficulties. Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! When the price (p) of commodity is $10 per unit, 750 units of it are sold. For every $1 increase in the unit price, the supply (q) increases by 100 units.
a. write the linear function q=f(p)
Using the given data, we have these values
p1 = 10, q1=750
p2 = 11, q2=850
Find the slope = 100 is the slope
Find the equation using y-y1 = m(x-x1)
q - 750 = 100(p-10)
q = 100p - 1000 + 750
f(p) = 100p - 250 is the linear function
:
b. Find the supply when the price is $15 per unit
Replace p with 15
q = 100(15) - 250
q = 1500 - 250
q = 1250 units
:
c. What is the price at which 1750 units can be supplied?
replace q with 1750
100p - 250 = 1750
100p = 1750 + 250
100p = 2000
p = 2000/100
p = $20 for 1750 units
