Albertson's found that the demand for Coke products varies inversely as the price of the product. When the price of a Coke product is $2.75, the weekly demand is 1250. Find the weekly demand if the price is raised to $4.00.
Mathematics · High School · Tue Nov 03 2020
llm
Answered on
Given :
Demand, D ∝ 1/Price
So, D = k/P
Where, k = constant
K = D × P
= 1250 × 2.75
= $3437.5
Now, Demand when Price is $4
Demand, D = 3437.5/4
= 859
Hence, weekly Demand when Price is raised to $4 is 859