A paint store sells 270 cans of paint per month at a price $32 each. A customer survey indicates that for each $1.20 decrease in price, sales will increase by 6 cans of paint. Determine the demand, or price, function.

Question

istim · Answer

My answer is 0.2x, but the actual answer is 86-0.2x.

istim · Answer

First, I found m thru m=1.20/6=0.2 Then I gound m by 1.20=(0.2)6+b

istim · Answer

got, not gound.

istim · Answer

Don't give a medal please! I need assistance!

istim · Answer

Please! This question is relatively simple.

mimi_x3 · Answer

hm, calculus?

istim · Answer

Yes. IT should be easy.

mimi_x3 · Answer

looks like a minimum/maximum problem..

istim · Answer

No, even easier than that.

istim · Answer

Please, anyone, tell me how to achieve the correct answer.

mimi_x3 · Answer

lol, i think there's a formula for it..which i cant remmember.. but i found this on google: http://en.allexperts.com/q/Calculus-2063/2010/7/Rate-Change-3.htm

istim · Answer

You looked up the actual question. Huh.

istim · Answer

The real answer is 86-0.2x.

istim · Answer

I got 0.2x only.

mimi_x3 · Answer

The formula to solve this is $P(x) = R(x) -C(x)$, right?

istim · Answer

That's something else.

istim · Answer

The profit function.

istim · Answer

It's the price function here.

mimi_x3 · Answer

well, whats the formula to solve this? I might be able to work backwards; since i cant remmeber how to do these..

istim · Answer

Well, it's reall just y=mx+b that we're looking at, with slope nad b sought for.

anonymous · Answer

f(x)=270+6(x/1.2)?

anonymous · Answer

but this isn't continuous function is it? you cant' sell 270.3333 cans can you?

istim · Answer

The answer in the textbook is 86-0.2x.

anonymous · Answer

the function?

istim · Answer

Yes.

anonymous · Answer

shouldn't the constant term be 270 not 86. as you start from the 270 figure not 86... the negative sign might have been because of the decrease.