The Demand Function for a Product Is P = 90

question 44

Short Answer

The demand function for a product is p = 90
where q is the number of units and p is the price of one unit.At what price will the demand be 5 units? How many units will be demanded if the price is $18.00?

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Definitions:

Manufacturing

The process of converting raw materials or components into finished goods through the use of labor, machinery, and processing techniques.

Production Control

Creates a well-defined set of procedures for coordinating people, materials, and machinery to provide maximum production efficiency.

Timetables

Schedules that specify the times at which certain events or activities are intended to occur, often used in transportation, education, and project planning.

Six Sigma

A set of management techniques intended to improve business processes by vastly reducing the probability that an error or defect will occur.