# SOLUTION: Please show me the correct equation. A company finds that at a price of p=\$20, they would sell x=42 tiles each month. If they lower the price to p=\$10, they would sell x=52 tiles

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 Click here to see ALL problems on test Question 511749: Please show me the correct equation. A company finds that at a price of p=\$20, they would sell x=42 tiles each month. If they lower the price to p=\$10, they would sell x=52 tiles each month. Find the equation of the line for the demand equation. Write your answer in the form p=mx+ b. Hint: write an equation using two points in the form (x,p).Answer by oberobic(2304)   (Show Source): You can put this solution on YOUR website!Pardon my rant, but Economics puts Price, the independent variable, on the y-axis and Demand, the dependent variable, on the x-axis, which is the reverse of mathematics. I suppose they did not know math when they settled on this arrangement. (smile) . x = qty y = price =p . They sell 42 @ \$20, which can be used to define the point: (42,20) They sell 52 @ \$10, which can be used to define the point: (52,10) . m = slope m = (p - p1) / (x - x1) m = (20-10)/(42-52) m = 10/-10 m = -1 . p= -1*x + b . Use one of the points to find 'b'. . 20 = -1*42 + b . 62 = b p-intercept = (0,62) . p = -x + 62 .