Question

A manufacturing company finds that they can sell 200 items at 3.50 per item and 400 items at 2.50 per item. If the relationship between the number of items sold ask and the price per item P is linear find a formula that gives ask in terms of P

Answer 1

x = -200 p + 900

Explanation:

given data

sell 200 item price = $3.50 per item

sell 400 items price = $2.50 per item

number of items sold = x

price per item = p

to find out

formula that gives x in terms of p

solution

Find the slope using m that is

slope m =
`(y2 -y1 )/(x2 - x1 )` ..............................1

here

y1 = 200

y2 = 400

x1 = 3.50

x2 = 2.50

so slope m =
`(400 - 200 )/(2.50 - 3.50)`

slope m = −200

so

Point slope form to find the equation is here

y - y1 = m (x - x1 )

y - 200 = -200(x - 3.50)

y = −200 x + 900

we know x = items sold and p = the price

so

the equation where x is in terms of p

x = -200 p + 900