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22 October, 06:18

A company makes t-shirts and their research shows that that price and demand are related linearly: p = mx + b. They know that in order to sell 10 shirts they need to set the price at $26, and in order to sell 20 shirts they need to set the price at $6. Find the linear equation relating price to demand. p = c. Preview

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  1. 22 October, 06:47
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    P = - 2x + 46

    Step-by-step explanation:

    the relation between price and demand is

    P = mx + b ... 1

    when demand is 10 shirts price is $26

    when demand is 20 shirts price is $6

    firstly put P = 26 and x = 10 in 1

    26 = 10m + b ... 2

    secondly put x = 20 and P = 6 in 1

    6 = 20m + b ... 3

    solving 2 and 3 we get

    m = - 2

    putting this value of m in either of 2 and 3 to get b

    b = 46

    so the final relation obtained by putting m = - 2 and b = 46 in 1 we get

    P = - 2x + 46
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