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A clothing business finds there is a linear relationship between the number of hats (X) it can sell and the price (P) it can charge
- A clothing business finds there is a linear relationship between the number of hats (X) it can sell and the price (P) it can charge per hat. Historical data shows that 1,500 hats can be sold at a price of $40, while 2,000 hats can be sold at a price of $30. Find a linear equation in the form P(X) = bX + a that gives the price (P) they can charge for (X) hats.
- If they gave away the hats for free, how many hats will people take away?
- How much must they reduce the price of the hats in order to sell an additional hat?
- How many hats can be sold at a price of $25 per hat?
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