Acompany makes greeting cards and their research shows that that price and demand are related linearly: p = m x + b . they know that for every additional card they wish to sell they need to drop the price by $0.10. they also know that in order to sell 260 cards they need to set the price at $7. find the linear equation relating price to demand.

p = (-0.10)x + 33

Explanation:

Given that,

p = m x + b (1)

Price and demand are related linearly.

m = -0.10, x = 260 and p = 7

Substituting all these in equation (1) for calculating the value of b,

7 = -0.10 × 260 + b

b = 7 + 26

b = 33

Therefore, linear equation relating price to demand is as follows:

p = (-0.10)x + 33

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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