A company that produces lawn chairs uses market surveys and linear regression to develop a demand function based on the wholesale price.The demand function is q = -110p + 7,500.At a price of $45,how many lawn chairs are demanded?

A) 1,750
B) 2,550
C) 4,950
D) 12,450

Question

Rosmah Moffat · Accepted Answer

Final Answer : B, Explanation :  Substitute p = 45 into the demand function to getq = -110(45) + 7,500 = 2,550.Therefore, at a price of $45, 2,550 lawn chairs are demanded.

A company that produces lawn chairs uses market surveys and linear regression to develop a demand function based on the wholesale price.The demand function is q = -110p + 7,500.At a price of $45,how many lawn chairs are demanded?

A) 1,750
B) 2,550
C) 4,950
D) 12,450

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Learning Objectives

Related questions

A company that produces lawn chairs uses market surveys and linear regression to develop a demand function based on the wholesale price.The demand function is q = -110p + 7,500.At a price of $45,how many lawn chairs are demanded?A) 1,750B) 2,550C) 4,950D) 12,450

Definitions

Learning Objectives

Learning Objectives

Related questions

A company that produces lawn chairs uses market surveys and linear regression to develop a demand function based on the wholesale price.The demand function is q = -110p + 7,500.At a price of $45,how many lawn chairs are demanded?

A) 1,750
B) 2,550
C) 4,950
D) 12,450