SOLUTION: A market research company finds that a the price of p=$20, they would sell x=42 tiles each month. If they lower the price to p=$10, then more people would purchase the tiles, and

Question 411557: A market research company finds that a the price of p=$20, they would sell x=42 tiles each month. If they lower the price to p=$10, then more people would purchase the tiles, 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 the answer in the form p=mx +b. Hint: write an equation using points in the form (x,p).
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!



Hi

(42,20)

(52,10)  m = -10/10 = -1

  p = -x + b  |using ordered pair (42,20) to solve for x

 20 = -42 + b

 62 = b

  p = -x + 62 

RELATED QUESTIONS

Suppose a market research company finds that at p=$20, they would sell x=42 tiles each... (answered by josmiceli)
a.	Suppose that a market research company finds that at a price of p = $20, they would... (answered by stanbon)
a.	Suppose that a market research company finds that at a price of p = $20, they would... (answered by MissionPossible)
a.	Suppose that a market research company finds that at a price of p = $20, they would... (answered by Theo)
Suppose that a market research company finds that at a price of p = $20, they would sell... (answered by stanbon)
Suppose that a market research company finds that at a price of p = $20, they would sell... (answered by drk)
a.	Suppose a market research company finds that at a price of p = $20, they would sell x... (answered by stanbon)
Suppose a market research company finds that at a price of p = $50, they would sell x =... (answered by stanbon)
Suppose that a market research company finds that at a price of p=$20, they would sell... (answered by nerdybill)