Question

A company has found that the daily demand x for its boxes of chocolates is inversely proportional to the price p. When the price is $5, the demand is 800 boxes. Approximate the demand when the price is increased to $6.

Answer 1

The demand is 667 boxes  when the price is increased to $6.

Step-by-step explanation:

Given that,

• The variable x is the demand and
• The variable p is the price.
• Let  k be the constant of proportionality.

We then express the inverse relationship as:

⇒ $x = \frac{k}{p}$

⇒ $k=xp$

It is given that, when the price is $5, the demand is 800 boxes.

So, substitute x=800 and p=5

⇒ $k=800\times 5$

⇒ $k=4000$

To find the price increased to $6 :

Now, substitute x = 6 and k = 4000 to solve for p.

⇒ $p=\frac{k}{x}$

$=\frac{4000}{6}$

$=666.6667$

⇒ 667 (approximately)

Therefore, the demand at a price of $6 is approximately 667 boxes.