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    E046487270805's Avatar
    E046487270805 Posts: 4, Reputation: 1
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    #1

    Jan 27, 2019, 11:38 PM
    Consumer demand A movie studio is releasing a new DVD, and the studio estimates that
    Consumer demand A movie studio is releasing a new DVD, and the studio estimates that if the DVD is priced at $19.99, it will sell 6.68 million copies, whereas if it is priced at $15.99, it will sell 11.27 million copies. If f is a linear function that gives the number of copies sold (in millions) at a given price, what is the slope of f ? What does it represent in this context?
    Curlyben's Avatar
    Curlyben Posts: 18,464, Reputation: 1857
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    #2

    Jan 27, 2019, 11:46 PM
    What do YOU think ?
    While we're happy to help we're not going to do all the work for you.
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    E046487270805 Posts: 4, Reputation: 1
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    #3

    Jan 28, 2019, 12:09 AM
    Okay. I may have not made myself clear.

    I'm done first one, but I don't know the second question: "What does it represent in this context?" I don't know how to answer this question. Could you please tell me the hints.
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    Curlyben Posts: 18,464, Reputation: 1857
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    #4

    Jan 28, 2019, 12:12 AM
    What does the slope tell you ?
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    E046487270805 Posts: 4, Reputation: 1
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    #5

    Jan 28, 2019, 12:17 AM
    The slope is a rate of change. The slope is 6.68 and 11.27 in my answer.
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    Curlyben Posts: 18,464, Reputation: 1857
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    #6

    Jan 28, 2019, 12:27 AM
    I think you may need to look at the chapter in your text book again.
    These type of slopes can tell you alot of things concerning consumer demand..
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    #7

    Jan 28, 2019, 12:28 AM
    Okay! Thank you :)

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