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Question 567795: I need help with this I am also looking for a paid tutor anyone intrested?
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1. In this problem, we analyze the profit found for sales of decorative tiles. A demand equation (sometimes called a demand curve) shows how much money people would pay for a product depending on how much of that product is available on the open market. Often, the demand equation is found empirically (through experiment, or market research).
Suppose a market research company finds that at a price of p = $30, they would sell x = 62 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 = 72 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: Write an equation using two points in the form (x,p).
You can put this solution on YOUR website! You could start by finding the slope (m) of the line containing the two given points (62, 30) and (72, 20). Substitute , , , and so... To find b, substitute the x- and p-values from either of the two given points. Let's use (62, 30) so the demand equation is:
(