E046487270805 Posts: 4, Reputation: 1 New Member #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 Posts: 18,468, Reputation: 1857 Admin & Wine Expert #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.
 E046487270805 Posts: 4, Reputation: 1 New Member #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.
 Curlyben Posts: 18,468, Reputation: 1857 Admin & Wine Expert #4 Jan 28, 2019, 12:12 AM
What does the slope tell you ?
 E046487270805 Posts: 4, Reputation: 1 New Member #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.
 Curlyben Posts: 18,468, Reputation: 1857 Admin & Wine Expert #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..
 E046487270805 Posts: 4, Reputation: 1 New Member #7 Jan 28, 2019, 12:28 AM
Okay! Thank you :)

 Question Tools Search this Question Search this Question: Advanced Search