Problema Solution
you sell 100 tshirts per week when the price is $10 and 200 per week when the price is $8 find the linear model, what the price needs to be to sell 300 and if sold T 12.50 HOW MAny would be sold
Answer provided by our tutors
the (linear) demand equation is the equation of the line through (10, 100) and (8, 200)
y - y1 = ((y2 - y1)/(x2 - x1))*(x - x1)
y - 100 = ((200 -100)/(8 - 10))*(x - 10)
y = - 50x + 600
the demand equation is
q = -50p + 600
q is the demand (number of items sold) and p is the price per item
for q = 300 we have
-50p + 600 = 300
by solving we find
p = $6
the price is 6$.