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Question 883582: The weekly demand for mouthwash in a chain of drugstores is 1,160 bottles at a price of $3.79 each. If the price is lowered to $3.59, the weekly demand increases to 1,340 bottles.
A.) Assuming that the relationship between the weekly demand y and the price per bottle x is linear, express demand, y as a function of price, x.
B.) How many bottles would the store sell each week if the price were lowered to $3.29?
Answer by lwsshak3(11628)   (Show Source):
You can put this solution on YOUR website! The weekly demand for mouthwash in a chain of drugstores is 1,160 bottles at a price of $3.79 each. If the price is lowered to $3.59, the weekly demand increases to 1,340 bottles.
A.) Assuming that the relationship between the weekly demand y and the price per bottle x is linear, express demand, y as a function of price, x.
B.) How many bottles would the store sell each week if the price were lowered to $3.29?
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Use the relationship, y=mx+b, m=slope, b=y-intercept
2 given points: (3.79,1160) and (3.59,1340)
slope=∆y/∆x=(1340-1160)/(3.59-3.79)=180/-0.20=-900
equation: y=-900x+b
solve for b using coordinates of one given point (3.59,1340)
1340=-900*3.59+b
1340=-3231+b
b=4571
..
equation: y=-900x+4571 (demand, y, as a function of price, x.
..
If price lowered to 3.29:
y=(-900*3.29)+4571)
y=1610
bottles would the store sell each week=1610
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