A store sells 20 ice cream bars per hour for $4 each, but on discount days, it sells 35 ice cream bars per hour for $3. Based on

Question

2 years ago

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A store sells 20 ice cream bars per hour for $4 each, but on discount days, it sells 35 ice cream bars per hour for $3. Based on

these two data points, what would be the slope for the relationship between the price and the quantity of ice cream sold?

Business

1 answer:

USPshnik [31] · Answer 1 · 2023-11-21T11:05:43+03:00

Answer:

The slope for the relationship between the price and the quantity of ice cream sold would be of -1/15

Explanation:

In order to calculate the slope for the relationship between the price and the quantity of ice cream sold we would have to calculate the following formula:

Slope= change in yaxis( vertical)/change in xaxis(horizontal)

Slope= change in price/change in quantity demand

Slope=P2-P1/Q2-Q1

Slope=3-4/35-20

Slope=-1/15

The slope for the relationship between the price and the quantity of ice cream sold would be of -1/15