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The following table shows worldwide sales of cell phones by a certain company and their average wh ...
The following table shows worldwide sales of cell phones by a certain company and their average wholesale prices in the first quarters of 2009 and 2010. (a) Use the data to obtain a linear demand function for the company's cell phones. (Let p be the price, and let q be the demand). q(p)=[ Use your demand equation to predict sales if the company lowered the price further to $80. million phones (b) Fill in the blank. For every $1 increase in price, sales of cell phones decrease by million units.