Chapter 2, Problem 51RE

(a)

To determine

To graph: The plot if the ordered pairs in a Cartesian plane for the following data represents the price $p$ and quantity demanded $q$ per day in $24$-in LCD monitors:

$\begin{array}{|cc|}\hline \text{Price(dollars)},p& \text{Quantity}\text{Demanded},q\\ 75& 100\\ 100& 80\\ 125& 60\\ 150& 40\\ \hline\end{array}$

(b)

To determine

To prove: The quantity demanded $q$ is a linear function of price $p$ where the following data represents the price $p$ and quantity demanded $q$ per day in $24$-in LCD monitors:

$\begin{array}{|cc|}\hline \text{Price(dollars)},p& \text{Quantity}\text{Demanded},q\\ 75& 100\\ 100& 80\\ 125& 60\\ 150& 40\\ \hline\end{array}$

(c)

To determine

The linear function that describes the relation between the price $p$ and quantity demanded $q$ per day in $24$-in LCD monitors where the data is

$\begin{array}{|cc|}\hline \text{Price(dollars)},p& \text{Quantity}\text{Demanded},q\\ 75& 100\\ 100& 80\\ 125& 60\\ 150& 40\\ \hline\end{array}$

(d)

To determine

The implied domain of the linear function between the price $p$ and quantity demanded $q$ per day.

(e)

To determine

To graph: The linear function in the Cartesian plane in part (a) for the following data that represents the price $p$ and quantity demanded $q$ per day in $24$-in LCD monitors.

$\begin{array}{|cc|}\hline \text{Price(dollars)},p& \text{Quantity}\text{Demanded},q\\ 75& 100\\ 100& 80\\ 125& 60\\ 150& 40\\ \hline\end{array}$

(f)

To determine

The interpretation of the slope of the linear function between the price $p$ and quantity demanded $q$ per day.

(g)

To determine

The interpretation of the intercepts of the linear function between the price $p$ and quantity demanded $q$ per day.