document.write( "Question 174289: 1. In this problem, we will analyze the profit found for sales of decorative tiles. A demand equation (sometimes called a demand curve) shows how much money people would pay for a product depending on how much of that product is available on the open market. Often, the demand equation is found empirically (through experiment, or market research). \r
\n" ); document.write( "\n" ); document.write( "a. 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)).
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Algebra.Com's Answer #129255 by solver91311(24713) $\"\"$ $\"About$

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Your two points in ( $\"x\"$ , $\"p\"$ ) form are ( $\"x%5B1%5D\"$ , $\"p%5B1%5D\"$ ) = (42,20) and ( $\"x%5B2%5D\"$ , $\"p%5B2%5D\"$ ) = (52,10).\r
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\n" ); document.write( "\n" ); document.write( "The two-point form of the equation of a line is $\"y-y%5B1%5D=%28%28y%5B2%5D-y%5B1%5D%29%2F%28x%5B2%5D-x%5B1%5D%29%29%28x-x%5B1%5D%29\"$ , except in this case you would substitute $\"p\"$ for $\"y\"$ .\r
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\n" ); document.write( "\n" ); document.write( "Substitute the coordinate values into $\"p-p%5B1%5D=%28%28p%5B2%5D-p%5B1%5D%29%2F%28x%5B2%5D-x%5B1%5D%29%29%28x-x%5B1%5D%29\"$ . Then do the indicated arithmetic and finally solve the equation for $\"p\"$ to end up with your equation in slope-intercept ( $\"p=mx%2Bb\"$ ) form. \n" ); document.write( "

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