If the price of a product decreases from $50 to $30 over a period of 4 months, the rate of change of the price per month is ______ dollars per month.
Answer & Analysis
Analysis
Question Analysis
This question tests the student's ability to calculate the rate of change in a real-world context. The rate of change is determined by the change in price over the change in time.
Key Concept Explanation
The rate of change in a real-world scenario can be calculated by dividing the total change in the quantity (in this case, price) by the total change in time. A negative rate of change indicates a decrease.
Step-by-step Solution
1. Identify the total change in price: dollars (from 50 to 30).
2. Identify the total change in time: 4 months.
3. Calculate the rate of change:
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