document.write( "Question 609975: Suppose a market research company finds that at a price of p = $30, they would sell x = 45 tiles each month. If they lower the price to p = $20, then more people would purchase the tile, and they can expect to sell x = 60 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 #1: Write an equation using two points in the form (x, p). Hint #2: The slope formula is needed. \n" ); document.write( "
Algebra.Com's Answer #384056 by stanbon(75887)\"\" \"About 
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Suppose a market research company finds that at a price of p = $30, they would sell x = 45 tiles each month. If they lower the price to p = $20, then more people would purchase the tile, and they can expect to sell x = 60 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 #1: Write an equation using two points in the form (x, p). Hint #2: The slope formula is needed.
\n" ); document.write( "price = m*quantity + b
\n" ); document.write( "Two points:
\n" ); document.write( "(45,30) and (20,60)
\n" ); document.write( "------
\n" ); document.write( "slope = (60-30)/(20-45) = 30/-25 = -6/5
\n" ); document.write( "------
\n" ); document.write( "p = mx + b
\n" ); document.write( "Solve for \"b\":
\n" ); document.write( "60 = (-6/5)*20 = b
\n" ); document.write( "b = 60 + 24
\n" ); document.write( "b = 84
\n" ); document.write( "---
\n" ); document.write( "Equation:
\n" ); document.write( "p(x) = (-6/5)x + 84
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\n" ); document.write( "Cheers,
\n" ); document.write( "Stan H.
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