SOLUTION: Suppose a market research 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, then more people would purchase the tile,

Question 321434: Suppose a market research 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, 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.
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
(20,42) & (10,52)
Y=mX+b
m=slope=(Y2-Y1)/(x2-X1)=(52-42)/(10-20)=10/-10=-1 is the slope.
42=-1*20+b
42=-20+b
b=42+20
b=62
Y=-X+63 is the line equation.
(graph 300x200 pixels, x from -6 to 75, y from -10 to 70, -x +63).
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