The demand function for a product is modeled by Find the price of the product if the quantity demanded is Round your answer to two decimal places where applicable.
A) $158.51
B) $2,468.78
C) $531.22
D) $2,478.98
E) $541.52

Question

​The demand function for a product is modeled by  Find the price of the product if the quantity demanded is  Round your answer to two decimal places where applicable.
A) ​$158.51 
B) ​$2,468.78 
C) ​$531.22 
D) ​$2,478.98 
E) ​$541.52

Quizplus · Accepted Answer

Substitute Q = 500 into the demand function and solve for P:
P = 800 - 0.03(500) = $531.22.

​The Demand Function for a Product Is Modeled by

The Demand Function for a Product Is Modeled by