Suppose a market research company finds that at a price of p = $20, they would sell x = 42 tiles each month. If they lower the price to p = $10, then more people would purchase the tile, and they can expect to sell x = 52 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).
in Algebra 2 Answers by

Your answer

Your name to display (optional):
Privacy: Your email address will only be used for sending these notifications.
Anti-spam verification:
To avoid this verification in future, please log in or register.

1 Answer

p=mx+b. When x=42, p=$20 and when x=52, p=$10, so we have two points (42,20) and (52,10).

20=42m+b and 10=52m+b.

Subtract the second equation from the first: 10=-10m so m=-1.

20=-42+b, so b=62, therefore p=62-x or p=-x+62.
by Top Rated User (1.2m points)

Related questions

1 answer
asked Jan 14, 2012 in Pre-Algebra Answers by Cb009 Level 3 User (2.2k points) | 647 views
1 answer
asked Nov 27, 2019 in Algebra 1 Answers by Alexis11 Level 1 User (140 points) | 460 views
1 answer
1 answer
asked Nov 13, 2011 in Word Problem Answers by anonymous | 709 views
Welcome to MathHomeworkAnswers.org, where students, teachers and math enthusiasts can ask and answer any math question. Get help and answers to any math problem including algebra, trigonometry, geometry, calculus, trigonometry, fractions, solving expression, simplifying expressions and more. Get answers to math questions. Help is always 100% free!
87,516 questions
100,279 answers
2,420 comments
732,017 users