Acompany 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

The linear equation relating price to demand is

Step-by-step explanation:

Given : A company makes t-shirts and their research shows that that price and demand are related linearly :. 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.

To Find : The linear equation relating price to demand ?

Solution :

A company makes t-shirts and their research shows that that price and demand are related linearly :

Where, p is the price and x is the demand

In order to sell 10 shirts they need to set the price at $26.

i.e. p=26 and x=10

The equation form is ....(1)

In order to sell 20 shirts they need to set the price at $6.

i.e. p=6 and x=20

The equation form is ....(2)

Solving (1) and (2) to get m and b,

Subtract (1) from (2),

Substitute in equation (1),

Substitute in the original relationship,

Therefore, the linear equation relating price to demand is

step-by-step explanation:

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