The demand function for a commodity is expressed below where

The demand function for a commodity is expressed below where p is the price per unit and x is the number of units sold.

(a) Find x as a function of p.

Solution

p = (12.20)/(1 + 0.01x)

==> p(1 + 0.01x) = 12.20

==> 1 + 0.01x = (12.20)/p

==> 0.01x = (12.20)/p -1

==> 0.01x = (12.20 - p)/p

==> x = (12.20 - p)/(0.01p)

Hence x as a function of p is (12.20 - p)/(0.01p)