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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Mathematics

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17 April, 20:03

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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Answers (1)

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Shawn Matthews · Answer 1

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