Thread: 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 ? $_____

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.