The following table shows worldwide sales of a certain type of cell phone and their average selling prices in 2013 and 2017. Year 2013 2017 Selling Price ($) 335 285 Sales (millions) 1,040 1,540 (a) Use the data to obtain a linear demand function for this type of cell phone. q(p) = Use your demand equation to predict sales to the nearest million phones if the price is raised to $375. million phones (b) Fill in the blank. For every $1 increase in price, sales of this type of cell phone decrease by million units.

The following table shows worldwide sales of a certain type of cell phone and their average selling prices in 2013 and 2017. Year 2013 2017 Selling Price ($) 335 285 Sales (millions) 1,040 1,540 (a) Use the data to obtain a linear demand function for this type of cell phone. q(p) = Use your demand equation to predict sales to the nearest million phones if the price is raised to $375. million phones (b) Fill in the blank. For every $1 increase in price, sales of this type of cell phone decrease by million units.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter1: Introducing The Economic Way Of Thinking

Section1.A: Applying Graphs To Economics

Problem 2SQP

See similar textbooks

Year	2013	2017
Selling Price ($)	335	285
Sales (millions)	1,040	1,540

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