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Math Help - Demand Question

  1. #1
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    Demand Question

    It has been discovered in a certain state that the relationship between the number of toasters demanded varies linearly with its price. When the price per item was $ 48 ,2500 items were demanded;
    When the price was $ 51 , 2465 items were demanded.

    Determine the price per item when 2477 toasters are demanded. $_____
    Above what price will the demand be zero ? $_____
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  2. #2
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    Burnaby, B.C., Canada
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    Re: Demand Question

    unit demand can be expressed as a function of unit cost.

    y=f(x)

    think of the $ and the number of units as x and y coordinates.

    say that y is the price
    and x is the demand

    y1=$48 x1=2500

    y2=$51 x2=2465

    so find a linear y=f(x) equation that intercepts those two points and you will arrive at formula that will give you both answers.
    Thanks from spyder12
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