The following table shows worldwide sales of a certain type

Last updated: 7/16/2022

The following table shows worldwide sales of a certain type of cell phone and their average selling prices in 2012 and 2013. Year q(p) = 2012 Selling Price ($) 395 Sales (millions) 702 2013 335 1,050 (a) Use the data to obtain a linear demand function for this type of cell phone. (Let p be the price, and let q be the demand). 29p 5 +2993 Use your demand equation to predict sales if the price is lowered to $235. 1630 ✔ million phones (b) Fill in the blank. For every $1 increase in price, sales of this type of cell phone decrease by 8 IVIT I X million units.