college algebra discussion board 1 0
Linear Demand and Supply
1. The linear demand function is given by the linear function equation q = mp + b, where q
is the number of items demanded corresponding to the price, p, in U.S. dollars of each
item demanded, m is the slope of the linear function, and b is the q-intercept of the linear
function.
Table A |
Table B |
P1 |
Q1 |
2 |
1,400 |
3 |
1,200 |
4 |
1,500 |
5 |
1,250 |
6 |
1,100 |
7 |
1,300 |
8 |
1,150 |
P2 |
Q2 |
12 |
400 |
13 |
200 |
14 |
500 |
15 |
250 |
16 |
100 |
17 |
300 |
18 |
150 |
2. Choose 1 pair of numbers, (pi, qi), i = 1, 2, from each table above. You must choose the pi
and qi that are on the same row in Table A or Table B, but you may choose combinations
that are in different rows in each table. For example, if you choose 4 from the p1 column
in Table A, then you must choose 1,500 from the q1 column so that the ordered pair (4,
1,500) is chosen from Table A. Then, you can choose any of the row values from Table
B, such as (18, 150), to go with the ordered pair (4, 1,500). Make sure that your chosen
two ordered pairs of numbers from Tables A and B are different from the combinations
that are chosen by all of your classmates who have already posted.
2. Use your chosen two ordered pairs and the equation of the slope of a linear function
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