IsTim 3 years ago 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.

1. IsTim

2. IsTim

First, I found m thru m=1.20/6=0.2 Then I gound m by 1.20=(0.2)6+b

3. IsTim

got, not gound.

4. IsTim

Don't give a medal please! I need assistance!

5. IsTim

Please! This question is relatively simple.

6. Mimi_x3

hm, calculus?

7. IsTim

Yes. IT should be easy.

8. Mimi_x3

looks like a minimum/maximum problem..

9. IsTim

No, even easier than that.

10. IsTim

11. Mimi_x3

lol, i think there's a formula for it..which i cant remmember.. but i found this on google: http://en.allexperts.com/q/Calculus-2063/2010/7/Rate-Change-3.htm

12. IsTim

You looked up the actual question. Huh.

13. IsTim

14. IsTim

I got 0.2x only.

15. Mimi_x3

The formula to solve this is \(P(x) = R(x) -C(x)\), right?

16. IsTim

That's something else.

17. IsTim

The profit function.

18. IsTim

It's the price function here.

19. Mimi_x3

well, whats the formula to solve this? I might be able to work backwards; since i cant remmeber how to do these..

20. IsTim

Well, it's reall just y=mx+b that we're looking at, with slope nad b sought for.

21. Ishaan94

f(x)=270+6(x/1.2)?

22. Ishaan94

but this isn't continuous function is it? you cant' sell 270.3333 cans can you?

23. IsTim

The answer in the textbook is 86-0.2x.

24. Ishaan94

the function?

25. IsTim

Yes.

26. Ishaan94

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.