anonymous
  • anonymous
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 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).
Mathematics
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anonymous
  • anonymous
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 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).
Mathematics
schrodinger
  • schrodinger
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At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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anonymous
  • anonymous
if we know that when p =$20, x=42 we can find: p = mx + b 20 = m(41) + b (1) and from p=$10 when x=52, we can find: p = mx + b 10 = m(52) + b (2) use eqt. (1) to find b: b = 20 - 42(m) apply b into eqt. (2): 10 = 52(m) + 20 - 42(m) 52(m) - 42(m) = 10 - 20 10(m) = -10 [ m = -1 ] ans. with m, form the eqt.: p = -x + b (3) plug either points (42,20) or (52,10) to find b: 20 = -42 + b b = 62 10 = -52 + b b = 62 hence, p = -x + 62 is that right?

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