don't know why im stuck on this one
1 A firm manufacturing jackets finds that it is capable of producing 100 jackets per day, but it
can only sell all of these if the charge to wholesalers is no more than $50 per jacket. On the
other hand, at the current price of $75 per jacket, only 50 can be sold per day.
Assume that the graph of price, $P, against number sold per day N is a straight line.
a Sketch the graph of P against N.
b Find the equation of the straight line.
c Use the equation to find:
i the price at which 88 jackets per day could be sold
ii the number of jackets that should be manufactured to sell at $60 each.
You know that 100 jackets (N
1) can be sold per day at a price ($P
1) of $50 a jacket and that 50 jackets (N
2) can be sold at a price ($P
2) of $75 per jacket, so these are two points on your graph.
- For "a" draw a line which goes through these two points on the set of axis described in the question
- For "b" use the formula for deriving the equation of a straight line (y-y
1=m(x-x
1), where; m = (y
2-y
1)/(x
2-x
1))
- For "ci" sub in 88 for N and solve for $P
- For "cii" Sub in 60 for $P and solve for N