> > a. Suppose a market research company finds that at a price of p = $20, they would sell x = 42 tiles each month.

a. 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...

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a. 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 months time.
Find the equation of the line for the demand equation.
Write your answer in the form p = mx +
b. Write an equation using two points in the form (x,p).

Answer

[tex]p=20\$--->x=42\ tiles\\\\p=10\$--->x=52\ tiles\\\\using\ those\ data\ we\ \have\ two\ points\ of\ \\ (42,20)\ and \ (52,10)\\ \\ substitude\ points\ into\ equation\ \ p=mx+b\\\\\left \{ {{20=m*42+b }\ \ \ \ \ \atop {10=m*52+b}\ |*(-1)}
ight.
\\\\ \left \{ {20=42m+b} \atop {-10=-52m-b}}
ight.
\\+-----\\Addition\ method\\\\ 10=42m-52m\\ 10=-10m\ |:-10\\ m=-1\\20=42m+b\\b=20-42m\\b=20-42*(-1)=20+42=62\\\\ p=-mx+62 [/tex]

Virtual Teaching Assistant: John B.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 85 words question was answered by John B. on StudySoup on 5/31/2017. The question contains content related to Math Since its upload, it has received 32 views.

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