QuestionGiven sales and prices for Q1 2009 and 2010, find the linear demand function $q(p)$ and predict sales at \$75. For each \$1 price increase, how many units decrease?

Studdy Solution
To fill in the blank in the statement "For every $ increase in price, sales of cell phones decrease by ___ million units", we can use the slope of the demand function. The slope tells us how much q changes for each unit change in p.
The slope of the demand function is -, so for every $ increase in price, sales of cell phones decrease by million units.