The table below gives the quantity of a product demanded and the quantity supplied for various prices. Solve the
problem.
-Find the linear equation that gives the price as a function of the quantity supplied. $\begin{array}{l|l|l}
\text { Price (dollars) } & \text { Quantity Demanded } & \text { Quantity Supplied } \
\hline 100 & 700 & 0 \
120 & 660 & 80 \
140 & 620 & 160 \
160 & 580 & 240 \
180 & 540 & 320
\end{array}$

A) $p = 4 q + 100$
B) $\mathrm { p } = - \frac { 1 } { 2 } \mathrm { q } + 450$
C) $p = \frac { 1 } { 2 } q + 100$
D) $p = \frac { 1 } { 4 } q + 100$

Question

The table below gives the quantity of a product demanded and the quantity supplied for various prices. Solve the
problem.
-Find the linear equation that gives the price as a function of the quantity supplied. $\begin{array}{l|l|l}
\text { Price (dollars) } & \text { Quantity Demanded } & \text { Quantity Supplied } \
\hline 100 & 700 & 0 \
120 & 660 & 80 \
140 & 620 & 160 \
160 & 580 & 240 \
180 & 540 & 320
\end{array}$

A) $p = 4 q + 100$
B) $\mathrm { p } = - \frac { 1 } { 2 } \mathrm { q } + 450$
C) $p = \frac { 1 } { 2 } q + 100$
D) $p = \frac { 1 } { 4 } q + 100$

Quizplus · Accepted Answer

The slope of the line is calculated using the change in price over the change in quantity supplied: $(180-100)/(320-0) = 1/4$. The equation is $p = \frac{1}{4}q + 100$.

The Table Below Gives the Quantity of a Product Demanded