MATH

The quantity demanded for a certain brand of portable CD players is 200 units when the unit price is set at $90. The quantity demanded is 1,200 units when the unit price is $40. Find the demand equation.
I'm leaning toward d, but I'm not sure.

a. p = - 0.05x + 100
b. p = - 0.04x + 100
c. p = - 0.05x + 90
d. p = - 0.04x + 90

Thank you

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  1. hmmmm. It asks for demand equation, but gives answers in Inverse Price equation.

    Demand equation:
    demand=b-a*Price
    Inverse demand equation:
    P=Q/a+b where Q is demand, P price, a and b are constants.
    Data
    40=1200/a + b
    90=200/a + b

    subtract second from first
    -50=1000/a
    a= -20
    then second equation with a
    90=200/20 + b
    b=80
    Inverse demand equation then is
    p=Q/-20 +90
    p=-.05Q+90

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