document.write( "Question 169154: Good Morning, I really need help with this problem: I am unsure of where to even begin. I am taking this class online and am finding my professor be less than helpful. So here it is.\r
\n" ); document.write( "\n" ); document.write( "Suppose that 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. (Hint: Write an equation using two points in the form (x,p)). \n" ); document.write( "
Algebra.Com's Answer #124734 by nerdybill(7384)\"\" \"About 
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Suppose that 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. (Hint: Write an equation using two points in the form (x,p)).
\n" ); document.write( ".
\n" ); document.write( "Your \"profit\" formula is:
\n" ); document.write( "P(x)
\n" ); document.write( ".
\n" ); document.write( "The two (x,p) points they give you are:
\n" ); document.write( "(x,p) = (52,10)
\n" ); document.write( "(x,p) = (42,20)
\n" ); document.write( ".
\n" ); document.write( "The \"form\" they want it in is:
\n" ); document.write( "p = mx + b
\n" ); document.write( "where
\n" ); document.write( "p is the profit
\n" ); document.write( "m is slope
\n" ); document.write( "x is the tiles sold
\n" ); document.write( "b is the \"y-intercept\"
\n" ); document.write( ".
\n" ); document.write( "To find 'm', the slope (given two points):
\n" ); document.write( "m = (p2-p1)/(x2-x1)
\n" ); document.write( "plugging in your points:
\n" ); document.write( "m = (20-10)/(42-52)
\n" ); document.write( "m = 10/-10
\n" ); document.write( "m = -1
\n" ); document.write( ".
\n" ); document.write( "Now, using any one of the points (let's use 42,20) and the slope plug it back into (to find 'b'):
\n" ); document.write( "p = mx + b
\n" ); document.write( "20 = (-1)(42) + b
\n" ); document.write( "20 = -42 + b
\n" ); document.write( "62 = b
\n" ); document.write( ".
\n" ); document.write( "Recapping, we have:
\n" ); document.write( "m = -1
\n" ); document.write( "b = 62
\n" ); document.write( ".
\n" ); document.write( "To complete, insert the above into:
\n" ); document.write( "p = mx + b
\n" ); document.write( "p = (-1)x + (62)
\n" ); document.write( "p = -x + 62 (This is what they're looking for)\r
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