Explanation Given information: Given, a corporate office provides the demand curve below to its ice cream shop franchises. At a price of $1.00 per scoop, 240 scoops per day can be sold. Calculation: The point on the graph showng the quantity sold at a price $1.00 considering price on x -axis and quantity on y -axis is given by ( 1 , 240 ) Also from the graph, the demand curve reaches 0 when the price is $2.00. So the point is given by ( 2 , 0 ) The graph is almost like a straight line. The equation of line passing through the points ( x 1 , y 1 ) , ( x 2 , y 2 ) is given by y − y 1 y 2 − y 1 = x − x 1 x 2 − x 1 Hence, the equation of the line representing the cost, c and quantity q is given by q − 240 To determine (b) To estimate the number of scoops that could be sold per day at a price of $1.50 per scoop.

6th Edition

ISBN: 9781119399322

Author: Hughes-Hallett

Publisher: WILEY

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Chapter 1.4, Problem 25P

To determine

(a)

To estimate the number of scoops that could be sold per day at a price of 50 cents per scoop.

To determine

(b)

To estimate the number of scoops that could be sold per day at a price of $1.50 per scoop.

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Chapter 1.4, Problem 24P

Chapter 1.4, Problem 26P

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Chapter 1 Solutions

APPLIED CALCULUS (WILEY PLUS)

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(a) To estimate the number of scoops that could be sold per day at a price of 50 cents per scoop.