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Problem

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Textbook Expert
Textbook ExpertVerified Tutor
16 Nov 2021

Given information

Given :- A manufacturer has been selling 1000 television sets a week at $450 each.

To find :- Find the demand function .

Step-by-step explanation

Step 1.

As per the given problem

 

Sold 1000 television sets per day at $450 each

So, if one $10 rebate is offered then sold 1100 television sets day at $440 each

Let price p as a function of units sold x

The two points of demand function,

 

 

Then , the slope will be, 

   

 

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