Suppose you own a store that sells top of the line MP3 players.You have determined that the demand function for your MP3 players is D(P)= 1200 - 4P.At what price would you sell the MP3 players if you wanted to sell 120 of them?
A) $250
B) $270
C) $280
D) $300

Question

Quizplus · Accepted Answer

To find the price at which 120 MP3 players will be sold, we need to substitute D(P) = 120 in the given demand function and solve for P.

1200 - 4P = 120

4P = 1200 - 120

4P = 1080

P = 1080/4

P = 270

Therefore, we should sell the MP3 players at a price of $270 to sell 120 of them.

Suppose You Own a Store That Sells Top of the Line