Cost of a Commodity. The price p, in dollars, of a certain commodity and the quantity x sold. Obey the demand equation. p= -1/5x+200
correct.
To find the cost of a commodity, you need to know both the price and the quantity sold. In this case, we have the demand equation given as p = -(1/5)x + 200.
The demand equation represents a linear relationship between the price (p) and the quantity sold (x). It is in the form of y = mx + b, where "m" is the slope of the line and "b" is the y-intercept. In this equation, the slope is -1/5, and the y-intercept is 200.
To calculate the cost of a commodity, we substitute the given value of quantity (x) into the demand equation. Let's say the quantity sold is 100 units. To find the cost, we substitute x = 100 into the equation:
p = -(1/5)(100) + 200
p = -20 + 200
p = 180
Therefore, if 100 units of the commodity are sold, the cost would be $180.