In economic theory, we let x represent the number of items (called demand) a supplier will produce if the price of the item is p. For a particular item, if the price is $42 per item, then the demand is 716 items. However, if the price is raised to $48 per item, then the demand decreases to 704 items. Using this information, find the demand equation as a function of the price p?
In economic theory, we let x represent the number of items (called demand) a supplier will produce if the price of the item is p. For a particular item, if the price is $42 per item, then the demand is 716 items. However, if the price is raised to $48 per item, then the demand decreases to 704 items. Using this information, find the demand equation as a function of the price p?
Chapter3: Polynomial Functions
Section3.5: Mathematical Modeling And Variation
Problem 5ECP
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In economic theory, we let x represent the number of items (called demand) a supplier will produce if the price of the item is p. For a particular item, if the price is $42 per item, then the demand is 716 items. However, if the price is raised to $48 per item, then the demand decreases to 704 items. Using this information, find the demand equation as a function of the price p?
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