At a local grocery store the demand for ground beef is approximately 50 pounds per week when the price per
pound is $4, but is only 40 pounds per week when the price rises to $5.50 per pound. Assuming a linear
relationship between the demand x and the price per pound p, express the price as a function of demand. Use
this model to predict the demand if the price rises to $5.80 per pound.
p = – 0.15x – 11.5; 40 pounds
p = – 0.15x + 11.5; 38 pounds
p = 11.5x + –0.15; 40 pounds
p = 0.15x + 11.5; 38 pounds
Assume that the price per unit d of a certain item to the consumer is given by the equation d = 35 – .10x, where
x is the number of units in demand. The price per unit from the supplier is given by the equation s = .2x + 20,
where x is the number of units supplied. Find the equilibrium price and the equilibrium quantity.
equilibrium price: $35 per unit; equilibrium quantity: 50 units
equilibrium price: $50 per unit; equilibrium quantity: 30 units
equilibrium price: $30 per unit; equilibrium quantity: 50 units
equilibrium price: $20 per unit; equilibrium quantity: 50 units
A piece of equipment was purchased by a company for $10,000 and is assumed to have a salvage value of
$3,000 in 10 years. If its value is depreciated linearly from $10,000 to $3,000, find a linear equation in the form V
= mt + b, t time in years, that will give the salvage value at any time t, 0 t
10.
You have $50,000 and wish to invest part at 10% and the rest at 6%. How much should be invested at each rate
to produce the same return as if it all had been invested at 9%?
$37,000 at 10%, $13,000 at 6%
$37,500 at 10%, $12,500 at 6%
$37,500 at 6%, $12,500 at 10%
$37,000 at 6%, $13,000 at 10%
Determine whether the slope of the line is positive, negative, zero, or undefined.