Math Problem Statement
Solution
The image you uploaded shows a question about a linear demand function for a specific type of cell phone. Here's a breakdown of the relevant parts:
Part (a):
- The demand function is given as , where is the price in dollars, and represents the sales in millions of phones.
- You're asked to predict the sales if the price is raised to $385.
We can use the given linear equation to calculate the predicted sales:
Let me calculate this for you.The predicted sales for this type of cell phone when the price is raised to $385 is 540 million phones.
Part (b):
- You're asked to fill in the blank: For every $1 increase in price, the sales of this type of cell phone decrease by 10 million units.
- This matches the slope of the linear demand function , meaning sales drop by 10 million units for each $1 increase in price.
Do you have any further questions or would you like more details on how this was calculated?
Here are 5 related questions to deepen understanding:
- How would the demand function change if the slope became steeper, say ?
- What is the price at which sales would drop to zero?
- How would the sales be affected if the price dropped to $200?
- Can you derive a revenue function from the given demand equation?
- What assumptions are made about the demand for this phone model in creating a linear demand function?
Tip: In linear demand functions, the slope (rate of change in sales per price unit) is crucial in predicting consumer behavior. Understanding this helps in pricing strategies!
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Math Problem Analysis
Mathematical Concepts
Linear Equations
Algebra
Demand Functions
Formulas
q(p) = -10p + 4390
Linear Demand Function
Theorems
Slope of a Linear Function
Suitable Grade Level
Grades 10-12
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