SOLUTION: Market research has shown that at a price of $230, 100 number of plasma TV’s are sold and if the price is reduced to $190, then 200 number of TV’s are sold. Find the equation tha

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Market research has shown that at a price of $230, 100 number of plasma TV’s are sold and if the price is reduced to $190, then 200 number of TV’s are sold. Find the equation tha      Log On


   

Question 249408: Market research has shown that at a price of $230, 100 number of plasma TV’s are sold and if the price is reduced to $190, then 200 number of TV’s are sold. Find the equation that represents this demand curve and state in the form of p=mx+b (Slope Intercept Form of a Linear Equation).
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
to get b substitute x and y and solve for b where price is y
then subtract one y from the other y (y1-y2)
then subtract one x from the other x (x1-x2)
the divide (y1-y2)/(x1-x2) that is the slope
now go back to the equation p=mx+b
so now we have m and b
substitute them in p=mx+b and that will be the equation we want