Chapter 1.2, Problem 53E

Demand for Gasoline The following table shows the demand for gasoline in the United States in terms of the price per gallon:³⁷

Price p ($/gallon)	1.50	2.50	3	3.50
Demand q (gallons sold/person/day)	1.7	1.65	1.55	1.4

Which of the following kinds of models would best fit the given data? Explain your choice of model. (A, a, b, and c are constants.)

(A) $q=A{b}^p\left(b>1\right)$

(B) $q=A{b}^p\left(b<1\right)$

(C) $q=a{p}^2+bp+c\left(a>0\right)$

(D) $q=a{p}^2+bp+c\left(a<0\right)$