Question 489931: How do I find the demand equation for p=$20 sells x=42 and p=$10 sells x=52, in the form of p=mx+b using two points in the form (x,p)?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! How do I find the demand equation for p=$20 sells x=42 and p=$10 sells x=52, in the form of p=mx+b using two points in the form (x,p)?
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Two points: (42,20) and (52,10)
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slope = (20-10)/(42-52) = 10/-10 = -1
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Form: p = mx + b
20 = -1(42) + b
b = 72
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Equation:
p(x) = -x+72
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Cheers,
Stan H.
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