IsTim
A paint store sells 270 cans of paint per month at a price $32 each. A customer survey indicates that for each $1.20 decrease in price, sales will increase by 6 cans of paint. Determine the demand, or price, function.
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IsTim
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My answer is 0.2x, but the actual answer is 86-0.2x.
IsTim
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First, I found m thru m=1.20/6=0.2 Then I gound m by 1.20=(0.2)6+b
IsTim
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got, not gound.
IsTim
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Don't give a medal please! I need assistance!
IsTim
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Please! This question is relatively simple.
Mimi_x3
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hm, calculus?
IsTim
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Yes. IT should be easy.
Mimi_x3
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looks like a minimum/maximum problem..
IsTim
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No, even easier than that.
IsTim
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Please, anyone, tell me how to achieve the correct answer.
IsTim
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You looked up the actual question. Huh.
IsTim
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The real answer is 86-0.2x.
IsTim
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I got 0.2x only.
Mimi_x3
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The formula to solve this is \(P(x) = R(x) -C(x)\), right?
IsTim
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That's something else.
IsTim
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The profit function.
IsTim
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It's the price function here.
Mimi_x3
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well, whats the formula to solve this? I might be able to work backwards; since i cant remmeber how to do these..
IsTim
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Well, it's reall just y=mx+b that we're looking at, with slope nad b sought for.
Ishaan94
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f(x)=270+6(x/1.2)?
Ishaan94
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but this isn't continuous function is it? you cant' sell 270.3333 cans can you?
IsTim
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The answer in the textbook is 86-0.2x.
Ishaan94
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the function?
IsTim
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Yes.
Ishaan94
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shouldn't the constant term be 270 not 86. as you start from the 270 figure not 86... the negative sign might have been because of the decrease.