Mathematics, 27.09.2021 01:00 michellen2020

of something and the number of people willing to buy it at that price. Seung Woo performs market research and determines that the number of people, N, who are willing to buy a concert ticket for price p (in euros) can be modelled by the equation N(p) = 5000 — 36p. a. Considering the above linear model in gradient intercept form, state the meaning of the gradient parameter in this context. Explain the meaning of the y-intercept in the context of this problem.
b. Find the number of people willing to buy a concert ticket if it costs 75 euros.
c. Solve N(p) = 0 and interpret the meaning of your answer.

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of something and the number of people willing to buy it at that price. Seung Woo performs market res...