Suppose that Internet domain names are sold at a price of $P per month for $2 < P < $100. The number of customers C who buy the domain names is a linear function of the price. Assume that 10,000 customers buy a domain name when the price is $2 per month, and 1000 customers buy when the price is $100 per month.(a) Determine the demand function C(P).(b) What is the slope of the graph of C(P)? Describe what the sloperepresents.
Suppose that Internet domain names are sold at a price of $P per month for $2 < P < $100. The number of customers C who buy the domain names is a linear function of the price. Assume that 10,000 customers buy a domain name when the price is $2 per month, and 1000 customers buy when the price is $100 per month.(a) Determine the demand function C(P).(b) What is the slope of the graph of C(P)? Describe what the sloperepresents.
Chapter3: Polynomial Functions
Section3.5: Mathematical Modeling And Variation
Problem 5ECP
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Suppose that Internet domain names are sold at a price of $P per month for $2 < P < $100. The number of customers C who buy the domain names is a linear function of the price. Assume that 10,000 customers buy a domain name when the price is $2 per month, and 1000 customers buy when the price is $100 per month.
(a) Determine the demand function C(P).
(b) What is the slope of the graph of C(P)? Describe what the slope
represents.
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