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Price & Demand In economic theory, we let represent the number of items (called demand) a supplier will produce if the price of the item is p. For a particular item, if the price is $21 per item, then the demand is 666 items. However, if the price is raised to $29 per item, then the demand decreases to 650 items. Using this information, find the demand equation as a function of the price p? r(p)

Price & Demand In economic theory, we let represent the number of items (called demand) a supplier will produce if the price of the item is p. For a particular item, if the price is $21 per item, then the demand is 666 items. However, if the price is raised to $29 per item, then the demand decreases to 650 items. Using this information, find the demand equation as a function of the price p? r(p)

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter3: Straight Lines And Linear Functions
Section3.3: Modeling Data With Linear Functions
Problem 5E: Price of Amazons Kindle The following table shows the price of Amazons Kindle 2 e-book reader. It is...
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In economic theory, we let I represent the number of items (called demand) a supplier will produce if the price of the item is p. For a particular item, if the price is $21 per item, then the demand is 666 items. However, if the price is raised to $29 per item, then the demand decreases to 650 items. Using this information, find the demand equation as a function of the price p?
Price & Demand In economic theory, we let represent the number of items (called demand) a supplier will produce if the price of the item is p. For a particular item, if the price is $21 per item, then the demand is 666 items. However, if the price is raised to $29 per item, then the demand decreases to 650 items. Using this information, find the demand equation as a function of the price p? r(p) =
Transcribed Image Text:Price & Demand In economic theory, we let represent the number of items (called demand) a supplier will produce if the price of the item is p. For a particular item, if the price is $21 per item, then the demand is 666 items. However, if the price is raised to $29 per item, then the demand decreases to 650 items. Using this information, find the demand equation as a function of the price p? r(p) =
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