Solve the problem.
-At a local grocery store the demand for ground beef is approximately 50 pounds per week when the price per pound is $4, but is only 40 pounds per week when the price rises to $5.50 per pound. Assuming a linear
Relationship between the demand x and the price per pound p, express the price as a function of demand. Use
This model to predict the demand if the price rises to $5.80 per pound.
A) p = - 0.15x - 11.5; 40 pounds
B) p = - 0.15x + 11.5; 38 pounds
C) p = 11.5x + -0.15; 40 pounds
D) p = 0.15x + 11.5; 38 pounds

Question

Quizplus · Accepted Answer

To find the price as a function of demand, we first determine the slope of the line connecting the two points (50, 4) and (40, 5.5). The slope (m) is given by the change in price divided by the change in demand, so m = (5.5 - 4) / (40 - 50) = 1.5 / -10 = -0.15. To find the y-intercept (b), we can use one of the points: 4 = -0.15(50) + b, solving for b gives b = 4 + 7.5 = 11.5. Thus, the equation is p = -0.15x + 11.5. To predict the demand when the price is $5.80, we set p to 5.80 and solve for x: 5.80 = -0.15x + 11.5, which gives x ≈ 38 pounds.

Solve the Problem. -At a Local Grocery Store the Demand for Ground Beef