A company has found that the demand for its product varies inversely as the price of the product. When the price x is 4.5 dollars, the demand y is 400 units. How do you find a mathematical model that gives the demand y in terms of the price x in dollars?
Mathematical model equation for demand of company's product is given by the equation
Let demand for company's product
Putting these in (A), we get
Hence #k=400xx4.5=1800 and our model equation is