college algebra discussion board 1 0

 

Linear Demand and Supply

 

1.       The linear demand function is given by the linear function equation q = mp + b, where q

 

is the number of items demanded corresponding to the price, p, in U.S. dollars of each

 

item demanded, m is the slope of the linear function, and b is the q-intercept of the linear

 

function.

 

Table A

 

 

 

Table B

 

 

 

P1	Q1
2	1,400
3	1,200
4	1,500
5	1,250
6	1,100
7	1,300
8	1,150

 

P2	Q2
12	400
13	200
14	500
15	250
16	100
17	300
18	150

 

 

 

 

 

 

 

2. Choose 1 pair of numbers, (pi, qi), i = 1, 2, from each table above. You must choose the pi

 

and qi that are on the same row in Table A or Table B, but you may choose combinations

 

that are in different rows in each table. For example, if you choose 4 from the p1 column

 

in Table A, then you must choose 1,500 from the q1 column so that the ordered pair (4,

 

1,500) is chosen from Table A. Then, you can choose any of the row values from Table

 

B, such as (18, 150), to go with the ordered pair (4, 1,500). Make sure that your chosen

 

two ordered pairs of numbers from Tables A and B are different from the combinations

 

that are chosen by all of your classmates who have already posted.

 

 

 

2.       Use your chosen two ordered pairs and the equation of the slope of a linear function