Finite Math and Applied Calculus (6th Edition)

Published by Brooks Cole
ISBN 10: 1133607705
ISBN 13: 978-1-13360-770-0

Chapter 1 - Section 1.3 - Linear Functions and Models - Exercises - Page 92: 88a

Answer

$q=-2p+24$

Work Step by Step

A demand function expresses demand $q$ (the number of items demanded) as a function of the unit price $p$ (the price per item). If it is a linear function, it has form $q=mp+b$. Given $(5,14)$ and $(3,18)$, two points on the graph, we find the slope: $m=\displaystyle \frac{18-14}{3-5}=\frac{4}{-2}=-2$ So far, we have $q=-2p+b.$ Substitute the coordinates of $(5,14)$ and solve for b. $14=-2(5)+b$ $14=-10+b\qquad/+10$ $24=b$ Thus, $q=-2p+24$
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