document.write( "Question 355023: Suppose a market research company finds that 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. How do I do this problem. Could you give me an example. Thank you. \n" ); document.write( "

Algebra.Com's Answer #253581 by stanbon(75887) $\"\"$ $\"About$

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Suppose a market research company finds that 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.
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\n" ); document.write( "You have two points relating x and p: (42,20) and (52,10)
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\n" ); document.write( "slope = (10-20)/(52-42) = -1
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\n" ); document.write( "Form: p = mx + b
\n" ); document.write( "10 = -1(52) = b
\n" ); document.write( "b = 62
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\n" ); document.write( "Equation:
\n" ); document.write( "p(x) = -x + 62
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\n" ); document.write( "cheers,
\n" ); document.write( "Stan H. \n" ); document.write( "

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