4GE10:01ITEMSINFO8.< PreviousNext >2 attempts remaining.TAMU_QID: BM_00048Consumers will demand 1070 itemsat a price of $2.75 per item. Whenthe price peritem increases to $5,the number of items demanded willdecrease by 45.Write the linear demand function,p(x), for this item. Enteryouranswer in slope-intercept form,using exact numbers.p(x) =Submit answer

We use standard demand function x = a - b P to find the

Answered: Consumers will demand 1070 items at a…

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 18SQ

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Consumers will demand 1070 items at a price of $2.75 the price per item increases to $5, per item. When the number of items demanded will decrease by 45. Write the linear demand function, p(x), for this item. Enter your answer in slope-intercept form, using exact numbers. p(x) =