SOLUTION: So I need help with a word problem. I am pretty sure that i have to write it in y=mx+b form but I'm having a lot of trouble. I've only gotten as far as solving for slope but thats
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Question 239978: So I need help with a word problem. I am pretty sure that i have to write it in y=mx+b form but I'm having a lot of trouble. I've only gotten as far as solving for slope but thats about it. Here it is.
After being in business for a year, you discover that you are selling more boxes then you expected. you find that this is due to a larger base of customers. You find for the last several months you have consistently sold 325 boxes of markers at $23.50 per box. You continue to assume that if you charge $30 per box that you will sell 0 boxes. Use (23.5, 325) and (30,0) to find the new linear demand function. Answer by solver91311(24713) (Show Source):
Since you have two ordered pairs, you need to use the two point form of the equation of a line:
Where and are your two given points, namely and
Make the indicated substitutions and then do the arithmetic. In order to express this as a function, you need to put your result into slope-intercept form, namely by solving for