Find the linear demand equation if 240 units are demanded when the price is $900 and 315 units are demanded when the price is $850. Use your equation to determine the number of units demanded at a price of $770.

Question

mathstudent55 · Answer

Demand is a function of price
Use ordered pairs (price, demand)
You have two of them: (900, 240) and (850, 315)
Now use the two-point form of a linear equation to write the equation. Then let p = $770 and solve for d

anonymous · Answer

what is the two point form of a linear equation?

mathstudent55 · Answer

|dw:1355112149744:dw|