Question

Your group has decided to open a small business selling dry erase markers. An important thing to decide is what would be the best price to charge for the markers. After doing some market research, you found that if the markers cost $4 no one will buy them. However, if you charge nothing you'd end up giving away your whole inventory of 500 markers. The best price will be somewhere between these extremes. Graph this relationship and find the linear equation n=? that describes the situation

Answer 1

@Mertsj

Answer 2

Electroid will help you.

Answer 3

ohkay :)

Answer 4

The only thing I can think of based on the limited information is that is the price is 4 the number sold is 0 which gives the ordered pair (4,0)
If the price is 0, the "number sold" is 500 which gives the ordered pair (0,500)
so use p for x and n for y and write the equation of the line which contains those two points.

Answer 5

Thank you so much! I have another question.

Answer 6

ok

Answer 7

The other question is: Use your graph to find the linear equation n= ? that describes the situation

Answer 8

The linear equation is the equation of the line you just wrote using the two ordered pairs.

Answer 9

Graph the ordered pairs, draw the line, write the equation of the line and you are done.

Answer 10

sry peop[le had to leave.

Answer 11

the number of markers is "y" and the cost is "x"

when x=0, n=500 -> y-intercept
when x=5, n=0 -> xintercept

Answer 12

Do you mean when x = 4, n=0?

Answer 13

oh yes.

Answer 14

slope = (500-0)/(0-4)=-125

Answer 15

\[n=-125x+500\]

Answer 16

Oh I understand thank you. & what about this? If you sell n markers at a price p, your income will be their product n times p. Use the formula for your income in terms of p only

Answer 17

\[i=n\times p\\
i=(-125p+500)\times p\]

Answer 18

would -125p be squared?

Answer 19

why do you think so?

Answer 20

because when you multiply the equation by p p times p is p squared correct?

Answer 21

yep.. just the "p" part.

Answer 22

so,\[i=-125\times p^2+500p\]

Answer 23

so would you rearrange the equation?

Answer 24

na, I'd leave it like that. kinda lazy person I am

Answer 25

oh ohkay aha thank you. I just have one more question when you graph the first equation (0,4) , (0,500) would it be a line seqgment or a line with arrows at the end?

Answer 26

well, do you think "n" can go negative?
or "p" can go negative?

Answer 27

no because we're dealing with dollars, right?

Answer 28

yeap
and the number of markers
neither can be negative.

Answer 29

ohh ohkay so to be clear, it is not a line with arrows right?

Answer 30

no

Answer 31

ohkay thank you soooo much!

Answer 32

yw

Answer 33

@Mertsj a medal is in order :)