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The following table shows worldwide sales of a certain type of cell phone and their average selling prices in 2012 and 2013. Year 2012 2013
The following table shows worldwide sales of a certain type of cell phone and their average selling prices in 2012 and 2013.
Year 2012 2013
Selling Price 375 335
Sales(millions) 968 1,184
(a)
Use the data to obtain a linear demand function for this type of cell phone. (Letpbe the price, and letqbe the demand).
q(p) =
Use your demand equation to predict sales if the price is lowered to $255.
million phones
(b)
Fill in the blank.
For every $1 increase in price, sales of this type of cell phone decrease by million units.
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