Homework SourseThe relationship d 5000 25p describes what happens to deman
The relationship d = 5000 25p describes what happens to demand (d) as price (p) varies. Here, price can vary between $10 and $50.
a.
How many can be sold at the $50 price?
Submit your answers in the following format: If you calculate 6212.123 you would enter 6212.12
Do not use symbols when entering your answer.
| a. | How many can be sold at the $50 price? |
Solution
The relationship d = 5000-25p represents that the demand decreases when the price increases and vice versa.
The number of units that can be sold at price $50 => d= 5000-25(50) = 4250 units.
