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    slack's Avatar
    slack Posts: 9, Reputation: 1
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    #1

    Feb 4, 2009, 07:30 PM
    Linear Demand
    Building EXIT signs are being sold. At a price of $19.75 per sign, 42 signs can be sold and at a price of $48.15 per sign, 33 signs can be sold. Assuming linear demand, what is the price that should be charged, to the nearest penny, if 6 signs are to be sold?
    galactus's Avatar
    galactus Posts: 2,271, Reputation: 282
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    #2

    Feb 4, 2009, 09:35 PM
    You have two sets of data points: (19.75,42) and (48.15,33)

    Now, use those points to find the line equation. Then, plug in x=6.

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