At a unit price of $760, the quantity demanded of a certain commodity is 80 pounds. If the unit price increases to $880, the quantity demanded decreases by 30 pounds. Find the demand equation (assuming it is linear) where p is the unit price and x is the quantity demanded for this commodity in pounds. At what price are no consumers willing to buy this commodity? According to the above model, how many pounds of this commodity would consumers take if it was free? pounds

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter6: Systems Of Equations And Inequalities
Section6.5: Systems Of Inequalities
Problem 8ECP: The demand and supply equations for a flat-screen television are...
icon
Related questions
Question
At a unit price of $760, the quantity demanded of a certain commodity is 80 pounds. If the unit price increases to $880, the quantity demanded decreases by 30 pounds. Find the demand equation
(assuming it is linear) where p is the unit price and x is the quantity demanded for this commodity in pounds.
At what price are no consumers willing to buy this commodity?
According to the above model, how many pounds of this commodity would consumers take if it was free?
pounds
Transcribed Image Text:At a unit price of $760, the quantity demanded of a certain commodity is 80 pounds. If the unit price increases to $880, the quantity demanded decreases by 30 pounds. Find the demand equation (assuming it is linear) where p is the unit price and x is the quantity demanded for this commodity in pounds. At what price are no consumers willing to buy this commodity? According to the above model, how many pounds of this commodity would consumers take if it was free? pounds
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning
Algebra for College Students
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning