Suppose that a market research company finds that at a price of p = $20, they would sell x = 42 tiles each mon

If they lower the price to p = $10, then more people would purchase the tile, and they can expect to sell x = 52 tiles in a month’s time. Find the equation of the line for the demand equation. Write your answer in the form p = mx + b.

Suppose that a market research company finds that at a price of p = $20, they would sell x = 42 tiles each mon
ok, in order to write the equation in p=mx+b, you need to find m and b.


Now, from the word problem, take all the numbers and place them accordingly into the equation, you will get 2 equations:


(1) 20=m42+b, and (2) 10=m52+b





you solve for m first, by subtrating (2) from (1)


20=m42+b


-(10=m52+b)





now rewrite is as





20 = 42m +b


-10= -52m - b


--------------------


10 = -10m


10/-10 = m


-1 = m


hence, m = -1..and place m in any of equations..so, for equation (2)


10= m52 + b


10 = (-1)52 + b


10 = -52 + b


10+ 52 = b


62 = b





Hence the equation is p= -1x + 62
Reply:points (42,20) and (52,10)


slope: (10-20)/(52-42) = -1


point slope formula:


p-20 = -1(x-42) %26gt;%26gt;solve for p


p - 20 = -x + 42


p = -x + 62