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A consumer electronics company sells 6.7 million MP3 players per month at a price of $100 apiece; when the price is lowered to $80, the company sells 10.2 million players per month. How many MP3 players can the company expect to sell per month at a price of $75?
 2 years ago
 2 years ago
A consumer electronics company sells 6.7 million MP3 players per month at a price of $100 apiece; when the price is lowered to $80, the company sells 10.2 million players per month. How many MP3 players can the company expect to sell per month at a price of $75?
 2 years ago
 2 years ago

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Adam1994Best ResponseYou've already chosen the best response.0
Let D be the demand and P the price. Then D(100) = 6.7 and D(80) = 10.2. The slope is (10.26.7)/(80100) = 0.175. So using the pointslope formula, the line is D(P) = 0.175 (P80) + 10.2. When P=75, the demand is D(75) = 0.175 (5) + 10.2 = 11.075 million.
 2 years ago
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